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Blockchain startup — Voatz raised $7 million from Medici ventures, Techstars

Blockchain startup raised funds

The Boston based mobile-voting and citizen engagement platform — Voatz has raised $7 million in a series A funding round led by Medici Ventures and Techstars with participation from other VC firms such as Urban Innovation Fund and Oakhouse Partners, according to InWara’s market intelligence platform.

During the month of May 2019, Blockchain and crypto startups on average raised a cool $6 million through Venture Funding, hence Voatz is exhibiting above average performance with respect to this.


Average funds raised by fundraising model

Blockchain startup riased funds

Source

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So what’s Voatz?

Voatz is a platform that aims to increase citizen engagement in politics by enabling them to vote via a secured smartphone or tablet. In March of 2019, the company made headlines when it announced its new pilot program in the city and county of Denver, USA. The program aims to enable overseas military personnel and regular citizens to be able to vote in the 2019 municipal elections using their platform.

The company also conducted a successful pilot program in West Virginia last year which involved as many as 24 counties during the 2018 Midterm elections. This pilot program marks the first time that a Blockchain-based mobile voting platform was used in a U.S federal election. 

Medici Ventures President Jonathan Johnson was quoted saying “What Voatz is doing to allow more registered voters to participate remotely in elections in a safe and secure way is important. It bodes well for more widespread adoption of the Voatz application. That’s one reason we’ve increased our investment in the company by leading this Series A round.”


Medici investment portfolio

Blockchain startup

InWara’s market intelligence platform

Medici has a very diverse investment portfolio, consisting of mainly of 36% Blockchain companies, 18% Financial Services companies. The other major industry sectors include Artificial Intelligence, Social Media, Trading and Investing, Fintech and Software — each contributing an equal 9%.

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