Foxconn Backs Blockchain Identity Startup in $7 Million Series A Round

Explaining its interest in this use case, Jack Lee, founding managing partner of HCM Capital, said in a statement: "Digital identity is a critical building block to achieve value through decentralized information transfers."

As reported previously by CoinDesk, HCM Capital notably put $18 million in the $250 million investment venture Galaxy Digital, founded by Wall Street veteran Mike Novogratz.

Matthew Commons, Cambridge Blockchain's CEO, said of the deal: "Foxconn's HCM brings a compelling strategic view of blockchain and digital identity. We're delighted to have their involvement, as well as the renewed backing of Partech and DCG."