Mercury, Republic Asia, and Cryptology Asset Group have co-led a $15 million Series A funding round in Topl, creator of a blockchain built to drive impact initiatives and sustainable transformation for companies across the world.
Following the company’s successful seed round in 2020, Topl has continued to focus on real-world use-cases with a focus on its quickly growing userbase. Topl has helped to track and monetise a variety of products across the globe, including conflict free diamonds, ethically sourced coffee, and fair-wage cocoa. Its blockchain has also helped measure and verify water usage in industrial processes and confirmed the cold chain for Covid-19 test kits.
Republic Asia, a division of Republic focusing on Asia-related FinTech/web3 solutions, will be joining the Topl board and assist with international expansion.
The fundraise follows Topl’s recent announcement of its inaugural grant program to fund Web3 startups and developers building inclusive and sustainable transformation across supply chains and markets. Topl will be making its first 20 grant awards in the lead up to its private token sale early next year. In addition to funding, grant recipients will receive development, go-to-market, and fundraising support from Topl and its network of investors, partnerships, and academics.
