DoxyChain, Warsaw-based document digitisation, and management platform has raised €2.2M in a Seed round led by Level2 Ventures. Other investors included CV VC, Polish Satus Starter, and a German family group of companies: Müller Medien, also participated in the round.
The Polish company will use the capital to further product development, team growth, and foreign expansion — to the European and US markets.
“We are now launching two new SaaS features. Working on our SaaS layer, we have observed that the scope of the use cases is so broad that we cannot cover them all individually. Instead, we can do better: we can build a modular infrastructure that allows our clients to develop their advanced tailored workflows and use cases on top of it. Such an infrastructure will be our Seed milestone,” says Piotr Żelazko, CTO and Co-founder of DoxyChain.
So far, the entities who wanted to use blockchain technology for documents had to build separate departments to create interdisciplinary teams comprising engineers, lawyers specializing in dispersed systems, developers, and persons in charge of compliance.
The Polish firm DoxyChain is changing it!
Infrastructure for documents
Founded in 2019 by a small group of blockchain technology enthusiasts – Gabriel Dymowski, Piotr Żelazko, and Marcin Lorenc, DoxyChain offers an infrastructure for documents, combining traditional frontends with web 3.0 features.
The company claims to provide the highest security, transparency, and business workflow automation.
“In October, we are launching DoxyCert and DoxyConnect. DoxyCert is a toolkit that allows clients to issue blockchain certificates, also known as NFTs, which will be used as undeniable proof of authenticity or ownership. A certificate is a specific document requiring the highest level of security and transparency throughout its life cycle. The second major platform feature is DoxyConnect, which will serve like a data room. Built on the blockchain, it lets the parties of a document exchange transact securely and easily never seen before.” says Gabriel Dymowski, CEO and Co-founder of DoxyChain.
“The main economic value relies on process automation with smart contracts. So instead of building costly blockchain foundations, software developers will focus on improving processes and user interfaces, leaving entire decentralization and automation to DoxyChain. Level2 Ventures is one of the first investors in the company. We strongly believe in the competencies of the management team and the technology they have created,” says Adam Rudowski, Co-founder of Level2 Ventures fund.