ABO Digital commits $10mln to IoT blockchain company Kalima

Adgully Bureau |

Dubai, UAE: Kalima, a delegated proof-of-stake (PoS) blockchain for IoT and data, has recently entered into a new agreement with ABO Digital, a private alternative funding investment group based in the Bahamas and Dubai. This significant partnership involves a commitment of US$10 million into the French-based blockchain company.

Kalima is a rapidly growing ecosystem that allows enterprises, developers, and startups to build the future of Web3 Enterprise and Data Governance applications, particularly with IoT (Internet of Things) data, in order to solve real-world problems.

It is a layer 1 third-generation blockchain, which enables users to independently govern, manage, and monetize data, build decentralized applications (dApps), and create tokens for smart-rewarding systems by leveraging Kalima's decentralized network of permissioned blockchains (PrivaChains).

‘’This funding commitment from ABO Digital marks a significant milestone for Kalima Blockchain, which plans on using the funds to further innovate and refine our IoT solutions, which have the potential to revolutionize industries and drive digital transformation. This commitment from ABO Digital will enable Kalima to enhance our IoT blockchain solution for industrial companies and developers, which is ready to be deployed at a global scale, and bolster strategic partnerships within the IoT and Blockchain ecosystem,” said Kalima Blockchain Chief Executive Officer, André Legendre.

"We are delighted to collaborate with the Kalima team going forward," said Amine Nedjai, CEO of ABO Digital. "Kalima's innovative approach and expertise in Web3 Enterprise and Data Governance applications align perfectly with our commitment to driving technological advancements in enterprise blockchain solutions. This partnership enables us to leverage alternative funding avenues and support the growth of Kalima's groundbreaking initiatives."