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British Music Legend Peter Gabriel Invests in Blockchain Startup

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68 year-old rock star and producer Peter Gabriel has invested in Provenance, a blockchain startup, according to a press release from July 18th. The former Genesis star’s investment amount has not been revealed, but he joins a list of investors, including Working Capital Fund, Digital Currency Group, Merian Ventures and Plug and Play. The new layer of investment will be added to the $800,000 raised in last year’s seed round.

Provenance is focused on the supply chain, particularly in food production and distribution. Founded in 2013, the company has an ambitious goal of establishing a new standard in the food sector, by creating a supply chain blockchain and getting 1000 food and drink businesses on board by 2025. To further facilitate this, they have appointed Alexsis de Raadt-St. James, the founder of Merian Ventures, as the Chairperson of the Board of Directors, and Chemain Sanan, a Partner at Working Capital, as a director.

Peter Gabriel is one of Britain’s most revered musicians. He founded Genesis in 1967 at the age of 17, and the band have sold over 100 million albums worldwide, as well as winning countless awards. He is a humanitarian activist who has collaborated with Amnesty International on a number of occasions, most notably as a performer in the Human Rights Concert series in the 80s. He was quoted in the press release, saying:

We need to be able to trust the source and distribution chain, particularly when it comes to guaranteeing that things are produced ethically and in an ecologically sound way. I am convinced that the service Provenance provides, using their blockchain data system, is going to find a big role going forward and will be of great use to the consumer and provide a level playing field for smaller, independent producers on which to compete with the big players. Jessi Baker and her team are very impressive and I fully expect them to do really well.

Image Credit: Deposit Photos

Stay tuned for more updates on Provenance’s project right here on Bitrazzi.com.

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