Blockchain technology company Everledger has entered voluntary administration after failing to obtain expected investor funds.
Founded in 2015, Everledger uses blockchain technology to determine the provenance of diamonds, high-end fashion, art, wine and other luxury goods.
Everledger has raised more than $51.7 million in total funding over the past eight years. Tencent led its $20 million Series A funding round, and Distributed Capital participated in another round of funding. Everledger employees received layoff notices on March 31. Vincents Chartered Accounts was appointed as the administrator on April 24. A meeting of primary creditors may be held in the near future. (SmartCompany)
