Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, August 21 2018 - 03:19
AsiaNet
Dorae Inc. Closes Capital Raising Round
LONDON, August 20, 2018 /PRNewswire-AsiaNet/ --

     Dorae Inc. has closed its first round of external capital raising, 
achieving a USD 24 million valuation in a process that was several times 
over-subscribed.

    Dorae is the leading distributed ledger technology company for raw 
materials.

    Ricardo Santos Silva, Co-Founder and Executive Chairman of Dorae commented, 
"We have been very impressed with the focus and enthusiasm of investors in this 
round, showing the appetite that exists for quality technology projects with 
global reach. The track record we have in bringing successful projects to 
fruition has been important, as has our depth in the commodities and financial 
sectors. Blockchain is changing the way we do business in the same way email 
changed the way we communicate."

    Dorae is active around the world, serving commodities supply chain 
participants from primary producers to end manufacturers. Independent from its 
users, Dorae enables compliance for processors and consumers of 
provenance-sensitive materials and enables automation and working capital 
efficiency across all products.

    Aba Schubert, Co-Founder and CEO of Dorae added, "We are very excited about 
this support from private capital. Our first place result in the Volkswagen, 
Zalando and Adidas hackathon underscored our technical position in the supply 
chain space. And our investors recognise the commercial value in the way we act 
- solving a problem that exists, rather than building a solution and then 
looking for a problem."

    Dorae has offices in Palo Alto, London and the Cayman Islands.

SOURCE: Dorae Inc
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