[Funding Alert] Blockchain startup New Street Technologies raises $2M from Unitus
The Bengaluru-based company will use the funds raised to expand its footprint and tap into new customer segments
- Bengaluru-based New Street Technologies has raised $2 million (close to Rs 14 crore) in seed funding from Unitus Ventures and a clutch of individual investors.
- The startup uses blockchain to connect banks, business correspondents and stores to originate and disburse loans by integrating its technology platform - MIFIX - with existing systems.
- The partnership allows New Street to disburse up to Rs 1,000 crore over a three-year period.
- Last May, Unitus participated in the Series A funding round of BetterPlace Safety Solutions, a company that leverages technology and data analytics to manage blue collar workforce.