Blockchain startup BurstIQ takes in $5 million investment funding

Company will use the money to advance its blockchain technology for healthcare.
By Bernie Monegain
08:54 AM
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Blockchain in healthcare

burstIQ data currency model. Credit: burstIQ

Blockchain healthcare data company BurstIQ has landed a $5 million investment from Millennium Blockchain.

The funding is the first of BurstIQ’s $20 million private placement offering initiated at the 2018 World Economic Forum in Davos, Switzerland, which was held Jan. 23-26.

The decision to launch at Davos was based largely on the global visibility and opportunity to engage with blockchain and crypto-currency industry leaders and bankers interested best-of-breed blockchain investment opportunities, according to Frank Ricotta, CEO of BurstIQ.

“Blockchain is transformative technology that will fundamentally disrupt multiple industries,” Millennium Blockchain CEO Brandon Romanek said in a statement. BurstIQ is Millennium Blockchain’s first portfolio acquisition, he added.

Millennium Blockchain is a specialty diversified holding company focused on next-generation blockchain use-cases and revenue-positive emerging growth companies. 

Executives said this partnership positions BurstIQ as one of the only revenue-generating and profitable emerging growth companies in the blockchain industry. 

Burst IQ expects to complete the offering by March 31.

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Email the writer: bernie.monegain@himssmedia.com