Embleema, a blockchain startup focused on healthcare data storage, raised $3.7 million in a Series A funding round, the New York City and Paris-based company announced Feb. 6.
Embleema will use the new capital to advance its development of blockchain-based applications for patients and pharmacies. Pharmagest, a leading pharmacy software group in Europe, and Techstars, a worldwide network that helps entrepreneurs, led the funding round.
As part of the investment, Embleema will join Techstar's the-month Alchemist Blockchain Techstars Accelerator, which will give Embleema access to expertise in the cryptocurrency and blockchain industry.
"Our successful Series A funding round and integration into Techstars' Alchemist Blockchain program will enable us to accelerate the release of the first decentralized marketplace for health data," Embleema founder and CEO Robert Chu said in a news release. "Health data owners such as patients, health networks and research centers will be able to exchange more relevant and faster data with life sciences companies and regulators such as the FDA in a real-time, secure and continuous manner, while ensuring full patient consent, thus accelerating the release of new treatments for patients."