GE Ventures , the venture capital firm of General ventures , has joined a $ 12 million investment round in blockchain startup Xage Security . The aim is to develop its security fabric for industries from energy to building management . In addition to GE , the Series A funding round , led by venture capital Partners , attracted investments from City Light Capital and NexStar ventures . Palo Alto - based Xage , which uses blockchain to allow for tamper - proof communication between infrastructure and devices , said it will also work with GE to develop international infrastructure using technology such as the internet of things .
GE Ventures, the venture capital arm of General Electric, has joined a $12 million investment round in blockchain startup Xage Security. The aim is to develop its security fabric for industries from energy to building management. In addition to GE, the Series A funding round, led by March Capital Partners, attracted investments from City Light Capital and NexStar Partners. Palo Alto-based Xage, which uses blockchain to allow for tamper-proof communication between infrastructure and devices, said it will also work with GE to develop international infrastructure using technology such as the internet of things.