KoineArth raises pre-Series A funding

Bengaluru: KoineArth, a blockchain-based supply chain startup, has raised $1.8 million (around Rs 13 crore) in a pre-Series A fundraising exercise.

The round in Bengaluru-based KoineArth was led by early-stage investor YourNest Venture Capital, the company said in a statement. Other participants include existing investors Inventus India and Lumis Partners.

KoineArth, operated by Koinearth India Pvt Ltd, was set up in 2018 by Praphul Chandra. The company says its platform works with enterprise customers to deploy solutions for inventory visibility, invoice financing, contract enforcement, and others.

KoineArth will use the capital it has raised to fund product development and market expansion.