Dhiway raises USD 1 million in a pre-seed funding round from Cornerstone Venture Partners Fund and SUNiCON VenturesNovember 8, 2022
#MARK Studio from Dhiway enables organizations to issue and exchange digitally verifiable credentials using the enterprise blockchain infrastructure (CORD) for safeguarding against data risks.
Bangalore (Karnataka) [India]: Dhiway, a block chain startup today announced that it has raised USD 1,000,000 in a pre-seed round led by CORNERSTONE VENTURE PARTNERS FUND, SUNiCON VENTURES and existing shareholders.
Dhiway operates and maintains India’s first verifiable data exchange platform, #MARK Studio anchored on the CORD (An Enterprise blockchain Infrastructure made in India, made for the world). The design and implementation of this blockchain provide the application with attributes of privacy, security and compliance with data regulations, including those likely to be in force in the near future. Dhiway, through its platform, helps enable an ecosystem of digital trust at scale.
The company along with 26 other worldwide organizations – hosted by The Linux Foundation – launched the Trust Over IP (ToIP) Foundation, driven by the need to converge and create an interoperable architecture for decentralized digital trust.
Dhiway currently works with large public and private Institutions in the areas of Governance, Identity, Payments, Digital commerce, Skills, Education and workplace solutions in their journey to adopt emerging Web3.0 technologies. The company has MoU’s with several leading organizations for mutual collaborations as they build their domain-specific solutions using the CORD infrastructure.
The founding team of Satish Mohan, K P Pradeep, Amar Tumballi & Sreevidya Satish have extensive industry-wide experience building companies in their respective domains. The core competency of the team is in building and scaling enterprise products & platforms using open-source development models. The domain capability, coupled with the operational and financial expertise, has created a well-balanced team with the ability to roll out this large Platform and allied application-based offerings to a Global market.
“The equity we have raised will address market expansion and continuous strengthening of the product road map. As India’s first Enterprise Blockchain infrastructure, we are currently working with large institutions in the areas of governance infrastructure and allied commercial applications while we continue to scale our business at a rapid pace targeting new domains and use cases.” said Pradeep K P, Co-Founder and CEO of Dhiway Networks.
We were glad to lead the round for Dhiway. In today’s world, “Data is Gold”, and each of us needs to have control over our data; with that broader premise in mind, Dhiway is our Maiden Investment from SUNiCON Ventures. The company has demonstrated a great piece of technology which can be implemented globally; The founding team is passionate about bringing a revolution in the data storage and verification space using their own layer 1 Blockchain CORD, said Saloni Jain – Founder and Managing Partner SUNiCON Ventures.
“We are excited at the large opportunity targeted by Dhiway invarious multi-stakeholder value-chains across use cases & industries. We are looking forward to Dhiway leading the evolution of emerging Enterprise SaaS business models in the Web 3.0 world” said VatsalBavishi, Investment Director, Cornerstone Venture Partners Fund.
A Bengaluru-headquartered startup, Dhiway, was incorporated in 2019 and is India’s first Verifiable Data ExchangePlatform. Founded by technologists with extensive experience in building open-source projects which scale, Dhiway is committed to working with open standards in order to drive innovation. Dhiway builds data interchange systems and enables organizations to deploy governance frameworks to sustain these as sustainable digital assets. Dhiway is a founder-member of the Trust over IP (ToIP) Foundation that is working to help enable the trustworthy exchange and verification of data between any two parties on the Internet.