Highlights
- All new board members represent original insurance consortium participants
- Registry shows new funding of just over $20 million
- This may not be full amount of the round
- B3i was targeting raise of $200 million +
The Blockchain Insurance Industry Initiative, otherwise known as B3i, has a new board. The company has been working on a new funding round targeting a raise of $200 – $300 million. Hence the board additions may provide some hints. According to the corporate registry, in the last month it appears to have raised just over $20 million of which only half is cash. However, it’s possible the funding round may not have closed. Also, a larger amount may have been agreed with the share issue phased over time. A spokesperson was unable to provide details re the funding without agreement from all shareholders.
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Image Copyright: B3i
