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iPhone Maker Foxconn Joins $7M Series A In Enterprise Blockchain Startup

Michael del Castillo

The venture capital arm of Foxconn has joined a $7 million Series A round in Cambridge Blockchain, a startup that specializes in helping enterprises ensure they know who their customers are in compliance with regulatory requirements. The equity investment round, joined by Partech Ventures and Digital Currency Group, consists of both the conversion of existing debt and an infusion of new capital, bringing the total amount raised to $9 million, including a seed round last year. Over the next two years, the Cambridge, Massachusetts-based firm, founded in 2015, plans to use the funds to build out its enterprise data management software, which is paradoxically geared toward both protecting identities and streamlining know-your-customer compliance for internet-connected devices.