NEW YORK, July 27, 2022 (GLOBE NEWSWIRE) — Blockchain Labs is proud to announce that it has made one of its most exciting and significant moves as an investment firm to date, through a strategic investment in the TOPL Blockchain Ecosystem.
TOPL is a Layer 1 Blockchain ecosystem that has raised $15 million in Series A funding. The fund was led by investors Mercury, Republic Asia, Cryptology Asset Group and Blockchain Labs. TOPL is proud to be the creator of the world’s only blockchain built to drive impact initiatives and sustainable transformation for companies worldwide. They have helped track and monetize a range of products around the world, including conflict-free diamonds, ethically sourced coffee and fair wage cocoa. TOPL as a blockchain has also helped measure and verify water use in industrial processes and verified the cold chain for COVID-19 test kits. Beyond its core blockchain protocol, TOPL also offers services that include a Blockchain-as-a-Service (BaaS) solution and software development kits (SDKs), equipping users and technology partners with simplified tools to drastically cut certification costs and create trust and transparency around impact and sustainability initiatives. By the end of this year, Topl expects to have around 40 to 50 projects launched on the chain and sets a goal of at least 100 applications launched by next year.
Blockchain Labs has been following TOPL’s development for some time and has had the privilege of getting to know the team through the investment process. They believe that TOPL fits perfectly into their portfolio as it resonates with them in terms of their vision for the future and their values as a whole. Blockchain Labs believes that the vision will pioneer growth and solve challenges that have yet to be solved, which is more than suitable for their investment mission. They also believe that the TOPL team’s expertise and knowledge, as well as their willingness to facilitate widespread adoption, will create a formula for success that they are eager to be a part of.
Blockchain Labs is excited to embark on this journey with the TOPL team and can’t wait to see what the future holds for this project.
About Topl
Topl, Inc., is a Houston-based venture-backed ESG technology company developing a purpose-built blockchain ecosystem to prove a company’s ethical and sustainable business practices. Founded in 2017, Topl empowers businesses to drastically cut operational and certification costs through the use of their purpose-built blockchain technology. www.topl.co
About Blockchain Labs
Blockchain Labs is a venture capital fund that was built with the purpose of promoting innovation in the Web3 space, especially innovation that seeks to revolutionize and improve the world for current and future generations. Blockchain Labs has a well-equipped team that provides hands-on assistance to portfolio companies to ensure success. www.blockchainlabs.xyz
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