On 18th July, British startup Provenance received additional funds from legendary musician Peter Gabriel, the lead for the band Genesis. Provenance is a blockchain technology company which is based on the supply chain industry, the company also received funds from Working Capital Fund, Digital Currency Group, Merian Ventures, and Plug and Play.
Jesse Baker, the CEO of Provenance said:
“Our mission at Provenance is to improve the lives and well-being of the people behind consumer products by bringing trusted, accessible information to commerce. This funding will help us develop our tools to meet the business need for more trustworthy supply chains whilst empowering shoppers to make a positive impact.”
The company has stated that it has multiple goals on its vision board. One of the primary targets that the company has given itself is to conduct a roll out of blockchain based solutions to over a thousand food and beverage businesses across the sector.
Peter Gabriel is the founding member of the band, Genesis which had released a slew of hits from their side. He has been into social work since he founded Witness.org and Elders.org which aims to form a club of a respected group of leaders with a vision to make the world a better place. He was quoted as saying that:
“We need to be able to trust the source and distribution chain, particularly when it comes to guaranteeing that things are produced ethically and in an ecologically sound way. I am convinced that the service Provenance provides, using their blockchain data system, is going to find a big role going forward and will be of great use to the consumer and provide a level playing field for smaller, independent producers on which to compete with the big players.”
He has also been involved in Ctrlio, a company that was involved in price comparisons. The new members in the Provenance board of directors include Alexisis de Raadt. James who is the founder of Merian Ventures. Chemian Sanan, a Working Capital partner will also join the Provenance board of directors.
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