Vendia Raises $30 Million in Series B Funding to Advance Its Data-Sharing Platform

Introducing Vendia: The Blockchain-Based Platform for Seamless Data Sharing

Vendia, a pioneering blockchain-based platform that makes it easier for businesses to share their code and data with partners across applications, platforms, and clouds, has announced a significant milestone in its journey. The company has secured a substantial $30 million Series B funding round led by NewView Capital. Neotribe Ventures, Canvas Ventures, Sorenson Capital, Aspenwood Ventures, and BMW iVentures also participated in this round, bringing the company’s total funding to $50 million.

Founding Visionaries Bring Expertise to Vendia

Vendia was founded by two AWS veterans: Tim Wagner, the inventor of AWS Lambda, and Shruthi Rao, the former head of blockchain at AWS. Their collective expertise has been instrumental in shaping Vendia into a platform that addresses real-world business challenges. As Wagner noted, "At the end of the day, our customers have real problems. They don’t have a blockchain problem — they’re trying to sell tickets, settle financial transactions, track supply chains."

Expanding Horizons with New Funding

The newly secured funding will enable Vendia to accelerate its growth and expand into new verticals beyond its current focus on financial services, travel, and hospitality. Wagner emphasized that the company is committed to addressing real-world challenges faced by businesses, rather than getting bogged down in technical details like blockchain implementation.

Unlocking the Power of Blockchains for Data Sharing

Vendia’s platform utilizes a blockchain to ensure data accuracy, provenance, and traceability. However, as Wagner noted, "For most of our customers, their core problem is that they have partners and they have problems with sharing data with control, but they don’t want to invest a lot into IT and infrastructure for it." This focus on solving real-world business challenges has resonated with Vendia’s customers, who include notable names like BMW, Aerotrax, and Slalom.

Real-World Applications of Vendia

The Vendia team shares success stories from their clients, highlighting the transformative impact of their platform. For instance, David Bettenhausen, CEO at Aerotrax Technologies, noted that "Next-gen blockchains like Vendia represent a powerful way to solve age-old supply chain challenges." He emphasized the importance of trust in accurate and verifiable data when connecting partners across complex supply chains.

Growing Team and Expanding Capabilities

Vendia currently boasts about 100 employees and plans to double its workforce by the end of the year, thanks to the newly secured funding. The company is also investing in expanding its support for cloud platforms beyond AWS, with Azure and Google Cloud Platform on the roadmap. Additionally, Vendia will continue to develop its file-sharing capabilities, which have shown significant traction.

A Look Ahead

As Vendia continues to disrupt traditional data sharing practices, it’s clear that this innovative platform is poised for continued growth and success. With a strong focus on solving real-world business challenges and a robust team behind it, Vendia is well-positioned to become the go-to solution for seamless data sharing across clouds and applications.

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