GE Ventures, the venture capital arm of General Electric, has joined a $12 million investment round in blockchain startup Xage Security. The new funding will help Xage’s team build out its platform for managing and protecting digital assets. 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.
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.