Bluzelle receives $1 million investment from NEO investment arm

Blockchain-based database provider Bluzelle today announced that it had received US$1M from NEO Global Capital, the investment arm of China’s leading blockchain platform – cementing a strategic partnership between the companies.

This contribution adds to the global partnerships Bluzelle has been putting together, including Global Brain (Japan), Hashed (Korea), Kryptonite 1 (UK), True Global Ventures (Europe).

“We have long admired Bluzelle’s ambition to become the Oracle of decentralized Database-as-a-Service (DDaaS), and we see their technology as being an integral part of the NEO ecosystem,” commented Roger Lim, Partner in NEO Global Capital.

“We are excited to invest in the future of DDaaS, and look forward to companies building on NEO to have a reliable database service they can use to make their products more powerful.”

Designed to solve the data storage and management woes of decentralized applications, Bluzelle’s DDaaS will use blockchain to provide a solution that removes points of failure, increases the efficiency of scaling, provides improved privacy and immutability of data, and enhances overall performance.

“NEO has a bold vision to accelerate the adoption of blockchain in Asia, and is working closely with both industry and regulatory bodies to make it a commercial reality,” commented Pavel Bains, CEO, and co-founder of Bluzelle.

“We’re thrilled to have the opportunity to work more closely with them to significantly advance the progress of blockchain in Asia.”

In January, Bluzelle successfully raised $19.5m in an initial coin offering (ICO). Bluzelle sold 33 percent of its total pool of 500 million crypto tokens to 7,058 people and organizations.