Blockchain company R3 is expected to complete a financing of $150 million in the first quarter
According to reports, David Rutter, founder and CEO of R3, a four year old blockchain startup based in New York, confirmed earlier reports that R3 is raising $150 million, saying that it is “not yet over,” but that R3 “has made very good progress,” and “will end a part of the New Year early.” Rutter also gave a detailed introduction to R3’s blockchain platform, Corda, which was developed by CTO Richard Gendal Brown of the company, who was an executive architect for industry innovation and business development at IBM.
Interpretation of this information:
The article reports that R3, a blockchain startup based in New York, is raising $150 million. David Rutter, the founder and CEO of R3, confirmed the reports and stated that the fundraising is not yet over. Nonetheless, R3 has made significant progress and will end a part of the New Year early. Rutter also provided an introduction to R3’s blockchain platform, Corda, which was developed by CTO Richard Gendal Brown.
The announcement of R3 raising $150 million is a significant development in the blockchain industry. The fundraising will provide R3 with ample resources to continue to develop its blockchain platform, Corda. The fact that the fundraising is not yet over suggests that R3 will continue to attract investors and grow as a company. Furthermore, Rutter’s comments about ending a part of the New Year early suggest that R3 is making good progress and is on track to achieve its goals.
Rutter’s introduction to Corda provides insight into R3’s blockchain platform. Developed by Richard Gendal Brown, Corda is a notable blockchain platform in the industry. Brown’s background as an executive architect for industry innovation and business development at IBM further highlights the innovative nature of Corda. As such, R3’s Corda platform has the potential to disrupt various industries and provide new opportunities for businesses and consumers alike.
In summary, R3 is a blockchain startup based in New York that is raising $150 million. Founder and CEO, David Rutter, confirmed the reports and suggested that the fundraising is not yet over. Rutter also stated that R3 has made good progress and is on track to end a part of the New Year early. Additionally, Rutter provided an introduction to R3’s blockchain platform, Corda, which was developed by CTO Richard Gendal Brown. Corda is an innovative blockchain platform that has the potential to disrupt industries and provide new opportunities for businesses and consumers.
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