Vancouver-based Beatdapp Software, a startup using blockchain technology to validate digital content streams, has completed a $3.2 million CAD financing round.
The round was led by early-stage investor Panache Ventures, which recently closed its inaugural fund at $58 million, and also saw contributions from Maple VC, 500 Startups, and Hike Ventures. Beatdapp said this new capital will accelerate its market entry as well as the deployment of blockchain technology in the music industry. The $3.2 million combines both pre-seed and seed rounds, which included non-dilutive funding the company received in grants and awards. This was done because those rounds took place in quick succession within the past year, Beatdapp told BetaKit.