Blockchain Intelligence Firm Elliptic Raises Mln In Series A Funding

Elliptic, a London-based blockchain intelligence company, has raised $5 million in Series A funding in a round led by Paladin Capital Group, which also received support from Santander InnoVentures, KRW Schindler, Digital Currency Group and Octopus Ventures.Elliptic identifies illicit activity on the Bitcoin blockchain and provides its services to the leading Bitcoin companies and law enforcement agencies globally.Dr James Smith, co-founder of Elliptic, told The Telegraph that its software, which uses artificial intelligence to scan the Bitcoin network, makes it easier to identify patterns of suspicious behaviour and trace it back to the source. It is being widely used by online exchanges and law enforcement to detect potential money laundering, and has processed nearly $2 billion in Bitcoin transactions.Paladin Capital Group, that led the funding round, is a leading multi-stage…


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