Blocko raises 7.5 million in Series B funding

Blocko, a Samsung SDS-backed blockchain infrastructure provider based in Korea, which recently signed a partnership agreement with SEED Group in UAE, has raised 9 billion won (~$7.5 million) in a Series B+ funding round.

Korea's major banks such as Shinhan Bank and KEB Hana Bank participated in the round, according to an announcement Thursday. Top Korean entertainment company Big Hit Entertainment and LB Investment (formerly Nexon's firm) also invested in the startup as their first blockchain investment.

Founded in 2014, Blocko provides blockchain solutions to enterprises and governments. Its recently launched solution, Aergo Enterprise, is being used by over ten companies, including Korea Exchange, Shinhan Financial Group and Hyundai Motor Group.