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Blockchain startup Orbs receives South Korean investment

South Korea’s largest news app operator Kakao has invested in Orbs, an Israeli blockchain startup.

The report states that Orbs did not disclose the scope of the investment. In addition, the startup reportedly said that this investment builds on the existing partnership with Ground X, the blockchain subsidiary of Cocoa.

Ground X released the Testnet of its DApp platform Klaytn ahead of its planned release next year. The above partnership resulted in collaboration on blockchain applications and R & D projects.

According to data from CrunchBase, cocoa has raised a total of 1.3 billion euros in four rounds of financing. In addition to KakaoTalk, the most well-known project of the cocoa group. The group includes the mobile payment application KakaoPay and the Internet bank KakaoBank.

According to his official website, Orbs is developing a hybrid blockchain that will be able to work together with Ethereum.

Ground X is also involved in raising capital for its own cocoa projects. As Cointelegraph recently reported, the subsidiary has already secured the bulk of the approximately € 265 million that Cocoa intends to use to develop a token for its blockchain platform.


Also published on Medium.

Published inStartups

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