News Contact Us

Recruit invests USD 5 million in Israeli blockchain startup Beam

Author : Saif Ali Bepari | Published Date : 2019-02-25 

The Japanese internet behemoth Recruit has reportedly made it to the headlines for launching a $25 million blockchain fund. As per an official press release, the firm had announced that the fund called the RSP Blockchain Tech Fund Pte. Ltd. was introduced in November 2018. The fund is focused on making rapid investments in blockchain-based startups, the press release claimed.

Recruit stated that the fund would look for investment methods other than the acquisition of shares for the purpose of investment and via investment activities in startup companies that utilize tokens to raise capital, the fund would encourage the development and dissemination of blockchain technology.

Moreover, the fund will mainly invest overseas and would consider the investment as per the rules and regulations of each jurisdiction concerned, the company added.

Reportedly, the first investment has been made in an Israeli blockchain startup Beam. The Israeli startup apparently created a Mimblewimble-based Privacy Coin that secures transactions by allowing transaction data to be authenticated by an authorized third-party, reported sources familiar with the development.  

Recruit also elaborated how existing tokens pose a challenge of leaking potentially confidential transaction data to third parties. While protecting auditability of the transactions by enabling transaction data to be authenticated by a specific third-party, Beam token offers a blockchain with features that stop the divulgation of transaction data to third parties and secures the user’s transaction data, Recruit added.

Beam confirmed the investment provided by Recruit through a tweet, stating that the funding will help the company to accomplish its Japanese mission as well, especially when it comes to deploying a scalable, compliant, and confidential crypto currency.

Reportedly, Beam had secured a total of $5 million and besides Recruit, the funding also drew support from Ofer Rotem’s Collider Ventures. Apart from Beam, Recruit has also invested in four other blockchain and crypto startups comprising of ShoCard, Shift Payments, Veem and BitFlyer, reported sources. 

About Author

Saif Ali Bepari

Saif Ali Bepari

A qualified Computer Science graduate, Saif Ali Bepari, armed with more of an inclination toward writing than coding, commenced his journey in the content industry as a freelancer. Currently penning down content for fractovia.org and a couple of other portals, Saif has also tinkered with creative writing, technical writing, blog writing, and copywriting. He can be contacted at- [email protected] | https://twitter.com/Saif_B17

Related News

Amazon extends anti-counterfeit Transparency program beyond U.S.

Published Date: 2019-07-12         Author: Saif Ali Bepari

Amazon has recently announced that it is expanding the Transparency program, an initiative to address counterfeit problems in e-commerce, to India, Canada and Europe. Transparency is aimed at serializing products with a T-shaped QR type code to help in the identification of a counterfeit item. Vi... Read More

ABB to build collaborative robotic solutions for healthcare automation

Published Date: 2019-07-11         Author: Saif Ali Bepari

ABB has recently announced that it will launch collaborative robots for medical laboratories, with the opening of a new healthcare hub at Houston-based Texas Medical Center (TMC) facility. Apparently, the innovation center will be the firm’s first dedicated healthcare research center and is se... Read More

Wahoo buys The Sufferfest to expand home training systems portfolio

Published Date: 2019-07-09         Author: Saif Ali Bepari

Reports confirm that Wahoo, a fitness-tech company, has announced the acquisition of The Sufferfest, a leading home training brand established by David McQuillen in 2008. Apparently, Wahoo, a connected fitness device leader, is known for the Kickr turbo trainers, the Elemnt computer family and Ti... Read More

© 2019 Fractovia. All Rights Reserved