Blockchain technology startup New Street raises funding to expand globally

Blockchain technology enabler New Street Technologies (New Street) has bagged a $4 million funding in a follow-on round. The round saw participation from a group of private investors led by Vittal Kadapakkam in the US, prominent Indian bankers, and existing investors including Unitus Ventures and Mohit Davar, Chairman of International Association of Money Transfer Network (IAMTN). With operations in India, UAE and parts of Asia, New Street now plans to enter the Americas, Europe, and Africa.

Sajeev Viswanathan, founder and CEO, New Street said Blockchain is to ‘processing’ what the internet is to information. He said New Street has leveraged blockchain’s unique ability to democratize transaction processing and has already demonstrated its transformational impact in the BFSI (banking, financial services and insurance) sector.