Today blockchain startup Chronicled announced it received $8.3 million in funding from True Global Ventures 4 Plus. The company developed the MediLedger Network, which helps automate processes in the pharmaceutical supply chain and beyond. Its members include the major U.S. wholesalers and top manufacturers including Genentech, Pfizer, Bayer, Gilead and Amgen.
The latest funding is part of a larger $16 million raised since 2019 when the company concluded its Series A funding, which was also $16 million. The Series B round is expected to close later this year.
Chronicled is relatively unusual in the blockchain sector in that the company’s CEO is female. The MediLedger Network was co-founded by Susanne Somerville, who was previously VP of Supply Chain at Genentech/Roche, where she worked with Eric Garvin, her co-founder. Initially, Chronicled was the MediLedger technology partner, but after two years, Sommerville and Garvin joined Chronicled’s executive team. And after a bit more time, Somerville became CEO of Chronicled.
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