Simba Chain closes $1.5 million seed investment round

South Bend, Ind. (Inside INdiana Business) – South Bend-based SIMBA Chain, a cloud-based, smart-contract-as-a-service platform has officially closed a $1.5 million seed financing round. The company says the funding will be used to hire additional sales and development employees to boost a market roll out.

The funding will also support the fulfillment of major government contracts, including one with the U.S. Air Force to secure its supply chain on battlefields.

As part of the funding round, Notre Dame Vice President and the Cathy and John Martin Associate Provost for Innovation Bryan Ritchie will be joining the SIMBA Chain board of directors. 

SIMBA Chain Chief Executive Officer Joel Neidig says the company was started to help entities be aware of and combat global security risks.

“SIMBA Chain was created so government and corporate entities can address the growing global threat to IT security posed by international ‘bad actors’ as well as individual hackers using blockchain. Our platform makes it simple for people with varying skillsets to quickly deploy dapps by auto-generating custom API that is not dependent on a single blockchain or distributed ledger technology,” Neidig said. “SIMBA Chain’s democratization of blockchain enables more organizations to eliminate the vulnerability of a single point of failure inherent in current IT enterprises by creating an immutable repository where once data is stored, it can’t be tampered with, changed or deleted.”

The funding comes from Notre Dame’s Pit Road Fund, Elevate VenturesFirst Source Capital, and individual angel investors.

Visit the USSA News store!
Click this link for the original source of this article.
Author: Merritt McLaughlin, Inside INdiana Business

This content is courtesy of, and owned and copyrighted by, and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact the administrator by using the contact form located in the top-left menu. Your request will be immediately honored. Please visit for more terrific, conservative content. The owner of this website may be paid to recommend American Bullion. The content of this website, including the positive review of American Bullion, the negative review of its competitors, and any other information may not be independent or neutral.