Egyptian hardware blockchain startup Elkrem just raised $75,000 from Consensys’ Tachyon Blockchain accelerator, bringing it to a total of $325,000 raised in 2018 where they closed a seed round investment led by Endure capital and joined by 500 Falcons, angel investor Khaled Alashmouny, Flat6Labs, Karim Hussein, and Con O’Donnel.
According to the startup, they will be using this investment to globally launch their first product “the blockchain development board.”
Amr Saleh, Elkrem’s co-founder of Elkrem, speaks about their product saying: “Given that we were already in the hardware makers market for the past 5 years, we thought we can develop a hardware development board that eases the integration of hardware and decentralized technologies such as bitcoin, Ethereum, IPFS, Whisper, Swarm,… etc.”
Elkrem’s product will allow blockchain developers to integrate their decentralized apps with hardware prototypes in an easy way without the need for deep knowledge in hardware development. Not only that but it also allows electrical engineers and hardware developers to connect blockchain to their hardware projects.
The startup has also joined Consensys’ Tachyon Blockchain accelerator program.