Home News Mobile Blockchain Voting Platform Voatz Raises US$7M

Mobile Blockchain Voting Platform Voatz Raises US$7M

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Voatz, a cellular elections
platform powered by blockchain expertise, has raised US$7 million in a Series
A funding spherical led by Medici Ventures and Techstars with participation from
Urban Innovation Fund and Oakhouse Partners, the corporate mentioned on Thursday. Voatz
will use the brand new capital to reinforce the accessibility and value of its
expertise, and develop its safety footprint because it prepares to launch new pilot
packages throughout the US.

Founded in 2014 and part
of the Ynext Incubator class of 2015
, Voatz supplies a platform that leverages
military-grade safety, biometrics, and the immutability of blockchain
expertise, to extend comfort, safety and auditability to election programs.

Nimit Sawhney, co-founder and CEO of Voatz, mentioned the funding
will assist the corporate speed up the event and deployment of its
expertise, including that cellular voting backed by blockchain permits for an
improved election course of, whereas making distant voting extra accessible and safer.

Voting via Voatz is completed by way of a cellular app. The app solely
operates with recently-manufactured smartphone fashions from Apple, Samsung and
Google, that are constructed with the most recent security measures, together with fingerprint
and facial recognition.

Voatz makes use of a number of approaches for malware detection and if
an working system has been tampered with, the app doesn’t allow a voter to
vote.

The platform employs blockchain expertise to make sure that,
as soon as submitted, votes are verified and immutably saved on a number of, geographically
various verifying servers.

Upon casting a vote, voters obtain an automated,
digitally-signed receipt with their alternatives as a way to assessment that their
vote was recorded correctly. The election organizer additionally receives an anonymized
copy of the digital receipt, guaranteeing {that a} post-election audit could also be
performed between the paper path, the anonymized receipt, and the blockchain.

“Voting is a good software of blockchain expertise. What
Voatz is doing to permit extra registered voters to take part remotely in
elections in a secure and safe approach is necessary. It bodes nicely for extra
widespread adoption of the Voatz software,” mentioned Jonathan Johnson, president
of Medici Ventures. “That’s one motive we’ve elevated our funding within the firm
by main this Series A spherical.”

Medici Ventures led Voatz’s earlier US$2.2 million seed
funding spherical announced
in January 2018.

Since June 2016, greater than 80,000 votes have been forged on
the Voatz platform throughout greater than 30 elections, the corporate claims.

In 2018, it performed a profitable pilot with 24 counties in
West Virginia in the course of the 2018 midterm elections the place deployed army
personnel and abroad US residents leveraged the platform to forged their
ballots. The pilot represented the primary time that cellular voting secured by a
blockchain-based infrastructure had ever been utilized in a US federal election.

Earlier this yr, it ran a pilot program with the town and
county of Denver to increase absentee voting for deployed army personnel and
abroad US residents in the course of the metropolis’s 2019 municipal elections.

“Programs with states like West Virginia and cities like
Denver make it clear that Voatz is heading in the right direction for delivering giant
scale influence and we’re extremely excited to proceed supporting their
development,” mentioned Andrew Maguire, Investing Partner at Oakhouse Partners.

In addition to the pilot packages with Denver and West
Virginia, Voatz mentioned it has partnered with state political events,
universities, labor unions, church teams and nonprofits to manage
elections utilizing its platform.


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