Fidelity leads investment, blockchain settlement company Clear secures $ 13 million in Series A financing

On February 6th, Clear, the Israeli-based blockchain settlement startup Clear, announced the completion of a $ 13 million Series A round of financing. The lead investor is Eight Roads, a venture capital unit of Fidelity. Giants Telefónica Innovation Ventures, Deutsche Telekom Innovation Pool, Hong Kong Telecom (HKT) and Singtel Innov8.

It is reported that Telefónica (Spain) and Deutsche Telekom have previously participated in Clear's pilot trials. Other participants include British Telecom Group, Orange of France and Telstra of Australia.

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(Picture from: tuchong.com)

A Clear company spokesperson revealed that the Series A financing was completed after the company conducted several successful trials with these telecommunications companies, involving more than 10 million US dollars of funds.

According to Clear's description, its blockchain solution provides a shared platform for telecommunications companies to achieve automated collaboration and settlement. Its protocol uses cryptographic technologies such as zero-knowledge proof to help companies easily implement B2B intelligence. Contract while maintaining control of the data.

Regarding the newly completed financing, Federico Homberg, Deutsche Telecom ’s global operator roaming business development and innovation director said:

"Billing and settlement between operators is very complicated and often has manual steps. Smart contracts and distributed ledger technologies will simplify and automate billing and settlement tasks."

Guenia Gawendo, Chief Innovation Officer of Telefónica, commented:

"Blockchain adds a layer of trust to our operations. With Clear's solution, the company can significantly reduce friction in the financial settlement process between operators and operators. First, we start with international voice services, and then we will Consider expanding to other core services. "

It is reported that Clear was established in early 2018, and with the completion of the financing, the company hopes to expand its team to 30 people and then gradually expand its business to other industries such as financial services and healthcare.