Filament Nets $5 Million for Blockchain-Based Internet of Things Hardware


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Filament has raised $5m in Series A funding led by Bullpen Capital and including contributions from Verizon Ventures and Samsung Ventures.

Filament will seek to market two hardware units: the Filament Tap, a sensor device that allows devices to communicate with phones, tablets and computers at distances of 10 miles, and the Filament Patch which extends the capabilities of the technology to custom hardware projects.

By leveraging its blockchain-based technology stack, Filament said enterprise companies can better manage physical mining operations or water flows over agricultural fields without relying on centralized cloud alternatives or pen-and-paper methods that result in human inefficiencies.