Blockchain company Gapless has raised $ 6 million from investors, including famed automaker Porsche who supports the platform.
Porsche has participated in a € 5.5 million funding round for the German startup Gapless, developer of a Blockchain-based vehicle management system.
Tech.eu reported on April 29 also the participation of other taxpayers. Like the FinLab EOS VC Fund, a joint venture between Block.one and FinLab, and insurance entrepreneur Kersten Jodexnis.
Gapless, a 20-person startup based in Berlin, is building the world’s first Blockchain platform for vehicle management.
Gapless will use the money raised to continue developing its key product. An application that allows users to record a complete vehicle history as well as increase their user base. It seeks to develop a platform or database for the things that users like.
The young company is also looking to expand its user base and build on EOSIO’s Blockchain protocol, which is developed by Block.one. According to Gapless, it currently manages more than 50,000 vehicles on its platform in Germany, the United States and the United Kingdom.
Among the investors in the round are Porsche, this automaker supports Gapless’s Blockchain project. Making it a strategic partner and financial sponsor of the company since its foundation in 2018.
The Porsche company commented that: “It is constantly seeking and investing in future technologies and will assess on a case-by-case basis whether such products or services can be deployed by Porsche to enhance the customer experience.”
In addition the company stated: “We evaluate and test various solutions based on blockchains. Blockchain can be a potential benefit for any trust-based interaction that requires a decentralized approach. ”.
Both tech companies and vehicle manufacturers have been developing Blockchain-based solutions. To track the life cycle of cars and enhance the driver experience.
Other Blockchain projects in the automotive area
Recently, the Blockchain Smart Sight Innovation company developed a blockchain application designed to improve the maintenance and inspection of various vehicles.
In this way, the SSI application creates a summary of the various issues (such as repair work and meeting inspection criteria) that a vehicle faces and enables users to share information with each other.
Also in early April, General Motors filed a patent application for a continuously updated navigation map system. The system would use the Blockchain to integrate data from vehicle sensors and build a reliable map.
Another major automaker, the BMW Group, revealed its plans to roll out its blockchain supply chain solution to 10 suppliers this year.