SGInnovate joins funding round for Irish blockchain company

AID:Tech digitises aid, welfare, remittance and donations and healthcare.

SGInnovate, along with Ireland’s national export agency Enterprise Island, has invested in Irish blockchain company AID: Tech, in what is the first investment by Irish and Singapore-state backed organisations in a blockchain company.

AID:Tech digitises entitlements like aid, welfare, remittances, donations and healthcare and delivers it through blockchain technology. The startup delivered international aid to Syrian refugees in a project in Tripoli, Northern Lebanon.

“At SGInnovate, we invest in people who are building early-stage technology companies that aim to solve important problems. AID:Tech is using blockchain technology to enable new levels of transparency, accountability, and efficiency to the vital work of getting humanitarian aid to those who need it the most,” said Steve Leonard, founding CEO at SGInnovate.

AID:Tech will use the funding for its hiring and expansion plans, allowing it to deliver projects from government, NGO and charity clients.

“As investments from state-backed agencies both at home and abroad signal further support of this promising technology, it is extremely encouraging to see these highly regarded institutions identifying blockchain as an active area of innovation while also embracing the technology for future transformative projects,” said Joseph Thompson, CEO at AID:Tech.