Legendary 1980s singer Peter Gabriel invested a large sum of money in Provenance. This is a British blockchain startup whose goal is to increase transparency in the food supply chain.
Gabriel joins a number of celebrities who are supporting - financially or personally - cryptocurrency startups. These include Paris Hilton, Floyd Mayweather, Katy Perry - all of whom have promoted the ICO on their social media this year.
Other investors in this round include Working Capital Fund, Digital Currency Group, Merian Ventures and Plug and Play. Merian Ventures founder Alexis James and Working Capital co-founder Chemain Sahan will join Provenance's founding board.
Provenance's goal is to use the technology behind Ethereum to create food supply logistics that are transparent and accessible to all consumers. The idea is that in a supermarket, a customer can trace where the food they buy comes from all the way back to the very beginning.
Provenance's last round raised $800,000. The company's founder, Jesse Baker, is one of Businessinsider's hottest female founders this year.
Peter Gabriel said “We must trust the source and distribution chain, especially when it comes to the sustainability and morality of what we eat.”
The Genesis frontman has backed other startups, investing $1.3 million in Ctrilo, a project that should help people manage their utility bills.
According to uk.businessinsider.com
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