Spherity, a pioneer in decentralised identity management software, has secured €2.5 million from an investment consortium of new and existing investors led by Blockwall, one of Germany’s leading Web3 VCs. Blockwall joins as lead investor in Spherity’s latest funding round, supporting the company’s Go-to-Market of its secure and trusted business and supply chain SaaS solutions. This investment will be used to expand Spherity’s team and global sales & engineering capabilities, reinforcing Spherity’s commitment to advancing decentralised identity management on a global scale.
The funds raised will be key in advancing Spherity’s decentralized identity management product capabilities, focusing on interoperable, standards-based, secure cloud services for identity. This investment will support the company’s mission to drive technological innovations across regulated sectors, including automotive supply chains, financial services, and the energy sector, as well as ecosystems such as Gaia-X and Catena-X.
Dr. Michael Rüther, COO & CFO of Spherity, commented on the strategic value of Blockwall’s involvement: “Blockwall’s partnership will play a crucial role in accelerating the development of our innovative solutions. Their support strengthens our ability to provide secure and efficient identity management services and market them globally.”
A central initiative is to grow Spherity’s US presence to further strengthen and expand Spherity’s position in the US pharmaceutical market supporting and enabling the industry’s compliance with the Drug Supply Chain Security Act (DSCSA).
Founded in 2017, Spherity provides enterprise identity and EUDi wallet solutions for Know Your Customer (KYC) and Know Your Supplier (KYS) process automation. In addition to enterprise identity, Spherity concentrates on digital product passports that comply with global provenance, product passport regulations, and AI regulations for categories like batteries, textiles, electronics, and media content.
Dominic Briggs, General Partner at Blockwall, said: “We’re thrilled to partner with Spherity, a leader in decentralized identity management. Spherity’s innovative approach aligns with Blockwall’s vision for enterprise Web3 technologies. This investment reflects our confidence in Spherity’s leadership team and the transformative impact of their solutions on industries.”
