Listed software solutions company Ookami (ASX:OOK) has taken a strategic stake in Sydney-based blockchain startup, BronTech by announcing a $1M strategic investment.
Backed by BlueChilli’s SheStarts program, BronTech disrupts the traditional data brokerage models such as those offered by Equifax, Experian and Acxiom by empowering people to capture the monetary value of their personal information.
Brontech’s technology enables people to monetise their personal information and have greater control over how their personal data, which is amalgamated from several sources and made anonymous, is shared with third parties. The company empowers users to have a higher level of control over how their personal data (anonymised or including Personally Identifiable Information-PIIs) is shared with third parties.
Brontech CEO and Co-founder Emma Poposka said: “This investment allows us to work on a portfolio of complementary products that will strengthen our positioning in the blockchain, digital tokens and data space. In the next year, we will leverage the relationship with our new shareholder and focus on market acquisition.”
The investment comes on the anniversary of BronTech being accepted into the inaugural cohort of BlueChilli’s award-winning accelerator program, SheStarts. The accelerator was first launched by BlueChilli in 2016, with the goal of tackling the gross underrepresentation of women in the startup economy.
BlueChilli CEO Sebastien Eckersley-Maslin said: “We’re just starting to scratch the surface with the potential of blockchain-enabled tech startups, and BronTech is a huge opportunity in this space.
“This early strategic investment in BronTech by a listed software company is a huge milestone for Emma and her team, and a great testament to the strength of our SheStarts program as a launchpad for high-impact, high-growth tech startups.”
Now in its second year, the SheStarts accelerator – recently named Accelerator of the Year and backed by national and global partners ANZ, MYOB, Microsoft and LinkedIn – is the country’s only venture-backed national tech accelerator designed specifically for female-led startups.
Since joining both the SheStarts Accelerator and the Telstra backed Muru-D program at the start of 2017, Brontech has experienced strong growth with over 3,000 identity-verified users on the platform, more than 1 million attributes in the data pool and established client contracts and partnerships with Tier 1 customers in banking, global insurance and accounting firms.
As part of the investment, Emma Poposka joins the Ookami board to provide strategic insights into the use of blockchain – recognition of her leadership and expertise in this growing area of technology.
Ookami’s shares went up 75% to $0.063 on the back of the announcement.