Next Big Thing AG (NBT), a German Internet-of-Things (IoT) and blockchain company builder, has secured 12 million euros ($13.5 million) in a new funding round, according to a press release on April 8.
NBT announced that the firm has successfully completed its Series A investment round led by global industrial insurance giant HDI Global SE through Hannover Digital Invest, with participation by the FinLab EOS VC Fund, a $100 million joint venture by fintech incubator FinLab AG and blockchain software developer Block.one.
According to the press release, HDI Global decided to invest in NBT to support the combination of IoT and blockchain technologies with a focus on machine economy.
Thomas Kuhnt, a member of the board of management of HDI Global SE, stated that HDI is not only investing, but also will actively participate in the development of new projects to expand its own knowledge and solutions.
Founded in 2016, Next Big Thing AG is an IoT hub that concentrates digital expertise in 12 national hubs. NBT is a member of the Digital Hub Initiative, a group of 12 national digital expertise hubs that was established by Germany’s Federal Ministry for Economic Affairs and Energy.
Recently, Swiss blockchain-based insurance transaction platform B3i added three new insurers and reinsurers to its group of investors within a new funding round. Previously, Cointelegraph had reported that B3i increased its capital by $16 million in February, having maximized its capital to $22.6 million.