finance news

VMware joins Digital Asset’s Series C funding round as investor

VMware joins Digital Asset’s Series C funding round as investor
VMware joins Digital Asset’s Series C funding round as investor

Digital Asset, an enterprise blockchain firm and the developers of the open-source DAML smart contract language, has reportedly announced that VMware has joined the firm’s services C funding round, which was announced earlier in December.

Sources cite that VMware has joined forces Salesforce Venture and Samsung Venture Investment Corporation to fill the role as an investor in the firm's funding round. 

Vice President and General Manager of VMware blockchain, Brandon Howe has also joined Digital Asset's Board of Directors. In September 2019, Brandon joined VMware to lead the business unit in Blockchain. Brendon previously served as the SVP and GM of NetApp's Cloud Data Services after managing their Emerging Products division.

Speaking on which, Yuval Rooz, Co-founder, and CEO of Digital Asset said that the partnership provides a true enterprise-grade blockchain service that meets the requirements of most demanding use cases across a range of markets. 

He also praised Brendon's leadership by stating how he brings tremendous technical leadership within storage, networking, and virtualization to the company’s board.

Earlier, recognized as a private blockchain provider for financial institutions, Digital Asset turned its focus to DAML, an open-source platform to assist deals with smart contracts. 

DAML is a modern framework for building connected applications covering data silos and trust boundaries, which changes how enterprises collaborate across different industries. Digital Asset partners with technological infrastructure providers to integrate smart DAML contracts with their blockchain, cloud or database technologies. Partners of Digital Asset offer business integration with modern infrastructure such as VMware Blockchain, which allows ambitious teams to build new products fundamentally.

The firm's announcement did not unveil the amount of funding received from VMware. However, its C Series disclosure at the end of the last year shows that it had managed to accumulate $35 million at the time.

Source Credit - https://www.nasdaq.com/articles/vmware-joins-samsung-salesforce-as-investor-in-digital-assets-series-c-funding-round-2020

About the author

Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.