Data Gumbo Has Raised $6M in Series A Equity Funding Round

Major American blockchain startup, Data Gumbo, has raised over $6 million dollars in  Series A equity funding round. Such a big sum of money was raised from influential energy companies, like a subsidiary of natural gas company Saudi Aramco, Equinor Technology Ventures, a Norwegian multinational energy operator, according to the energy-focused news outlet Worldoil.

Andrew Bruce, CEO of Data Gumbo, said:

“The partnership with Equinor and Saudi Aramco, and their associated supply chains and partnerships, will provide the momentum for the Data Gumbo BaaS network to gain critical mass.”

These funds will be used in developing the blockchain network of the company, as well in adding capital to technical, sales, and marketing teams. The investors are very happy to hear such news, they expect Data Gumbo’s platform to promote and improve gas and oil supply chains, and to decrease reconciliation times between supply chain counterparts.

Daniel Carter, Senior Investment Director at Saudi Aramco Energy Ventures, said:

“Distributed ledger technologies have the potential to bring win-win efficiencies between industrial companies and their suppliers, and Data Gumbo is at the forefront of introducing this innovation. While they have started in the energy sector, Data Gumbo’s platform has broad industrial applicability.”  

We remind you

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