The ‘Start Up’ VOTTUN opens round to boost its blokchain business

Originally Reported by Expansion, a major financial journal in Spain

Translated from online news site Kippel01 Vottun, a blockchain traceability startup,  focuses on the business of smart contracts and on ensuring the traceability of the various processes of its clients. The company started to market its product last July.

The ‘Start Up’ VOTTUN opens round to boost its blokchain business

The  blockchain  is creating more value as a business model for different companies. The  start up launched from Barcelona a platform for companies to record all kinds of data through this technology. In order to finance its growth and scale the project in Europe and North America,  the company has opened a round to attract one million dollars .

Vottun uses smart contracts to ensure total traceability of its clients’ processes, eliminate fraud, simplify its operations, avoid intermediaries, improve security, save costs and increase transparency. The  start up  has offices in Barcelona and Los Angeles , and employs twelve people.

The former Amazon Luis Carbajo founded Vottun in 2017 along with former Hewlett Packard Rohan Hall and Marta Vallès. The manager explained to  Expansión, a financial news paper in Spain,  that the company already has a product that works and began to market in July as a  blockchain as a service  (BaaS). The business model is that  customers pay the company for each data they register through the system  to the blockchain.  The product is blockchain agnostic including both public and private blockchains like Ethereum and Hyperledger integration.

In its client portfolio for Skills and Compliance Traceability, Vottun clients include Naturgy – a $20B utility company, Sedigas – a gas utility compliance organization, one of Spain’s largest banks, The City of Barcelona Economic Development Agency (Barcelona Activa) and educational centers such as EADA Business School and Blockchain Institute of Technology.

For its Supply Chain client portfolio the  start up  is working with a chain of supermarkets, a food group, individual food producers – although it has not revealed the identity of these companies.