Blockchain healthcare data company BurstIQ has landed a $5 million investment from Millennium Blockchain.
The funding is the first of BurstIQ’s $20 million private placement offering initiated at the 2018 World Economic Forum in Davos, Switzerland, which was held Jan. 23-26.
The decision to launch at Davos was based largely on the global visibility and opportunity to engage with blockchain and crypto-currency industry leaders and bankers interested best-of-breed blockchain investment opportunities, according to Frank Ricotta, CEO of BurstIQ.
“Blockchain is transformative technology that will fundamentally disrupt multiple industries,” Millennium Blockchain CEO Brandon Romanek said in a statement. BurstIQ is Millennium Blockchain’s first portfolio acquisition, he added.
Millennium Blockchain is a specialty diversified holding company focused on next-generation blockchain use-cases and revenue-positive emerging growth companies.
Executives said this partnership positions BurstIQ as one of the only revenue-generating and profitable emerging growth companies in the blockchain industry.
Burst IQ expects to complete the offering by March 31.