Artory, the art world’s leading blockchain-secured digital art registry, announced that it successfully raised $7.3 million in its Series A funding round. The Series A funding solidifies Artory as the industry leader in its field and marks a watershed moment for technology companies at the intersection of art and blockchain reaching the next level in terms of long-term growth potential and sustained development.
Artory’s blockchain-backed Registry tracks provenance and title for fine art and collectibles, and the Registry clearly distinguishes trusted data signed by Artory partners from public auction sales data.
As a result of Artory’s recent acquisition of Auction Club, a leading art sales database that includes sales information from 4,000 auction houses worldwide, Artory’s object-oriented database will be accessible, free of charge, by collectors, dealers, and researchers interested in tracking digital provenance, searching sales history, and conducting due diligence beginning this summer.
Melanie Gerlis at the Financial Times also reported that backers include tech investor 2020 Ventures, which has bought into Spotify and, closer to the art market, 1stdibs, an online platform for high-end lifestyle goods.
Among other investors that contributed to Artory’s Series A funding round is Hasso Plattner Capital, the investment firm founded by Hasso Plattner, co-founder and chairman of the German-based software company SAP. This ongoing investment continues the firm’s longstanding support of Artory since the company was founded in 2016.
Read more about Artory’s Series A round at The Art Newspaper, ARTnews, Art Critique, and Cointelegraph.
