Xage (pronounced Zage), a blockchain security startup based in Silicon Valley, announced a $12 million Series A investment today led by March Capital Partners. GE Ventures, City Light Capital and NexStar Partners also participated.
The company emerged from stealth in December with a novel idea to secure the myriad of devices in the industrial internet of things on the blockchain. Here’s how I described it in a December 2017 story:
Xage is building a security fabric for IoT, which takes blockchain and synthesizes it with other capabilities to create a secure environment for devices to operate. If the blockchain is at its core a trust mechanism, then it can give companies confidence that their IoT devices can’t be compromised. Xage thinks that the blockchain is the perfect solution to this problem.