Newly unveiled blockchain startup closes pre-seed round

Founded by Gianluca De Novi, who acts as CEO, Lugano-based Circular Global Ledgers SA has developed Circular Protocol a fourth-generation blockchain platform designed to reshape how businesses interact with decentralized systems.  At the heart of its offering is its unique approach to scalability, security and decentralization. Unlike traditional blockchain networks that often struggle with increased transaction volumes, Circular Protocol's architecture allows for seamless expansion. By implementing a sharding mechanism, the platform can grow its capacity in tandem with user demand, ensuring consistent performance even as adoption increases.

A key feature of the protocol is flexibility, whereby companies can create their own private blockchain or build applications on the public Circular Protocol network. This dual approach caters to businesses with varying privacy and control requirements, from those needing complete data sovereignty to others seeking the benefits of a public blockchain ecosystem. Security and accessibility are paramount, and the platform guarantees fast, immutable transactions, providing businesses with a reliable foundation for their blockchain-based operations. Circular is compliant with regulations, like GDPR and HIPAA.

Following the go-live in Q2 this year, the startup targets players in healthcare, aiming to pioneer data auditing technologies for sensitive areas like medical records and clinical trials, as well as DeFi (Decentralized Finance) and GameFi (a fusion of online gaming and decentralized finance) companies which can use the platform to protect their data, perform digital twinning and smart contract to execute their operations securely. Currently, Circular has grown its community to over 100,000 people who purchased the CIRX token, a native coin on the Circular platform, to pay for transactions and rewards. CIRX is currently being traded on Coinmarketcap.

Additionally, the startup has secured partnerships with enterprises in healthcare and industrial to work on some use cases. “We have major partnerships’ announcements coming, with tier-one names lining up to leverage our infrastructure for their daily business, from world-known consultancies to large corporations, plus private equity ecosystems, active in both AI and blockchain. The scope of our operations is global, covering Europe, US and the Middle East for now,” said De Novi.

Circular has finalized its pre-seed round in which it raised an undisclosed amount to support its commercial operations and business developments, as well as support tech and product enhancements. Investors in this round hail from the healthcare industry. The next round aims to raise USD15 million.

Alongside the founder is a team of Team is around 15 people worldwide, including employees and a few advisors. “We are at the beginning, therefore only a few are based in Switzerland. Our plan after the seed round is to move most team members in Lugano, so say in Q1 2025,” says Francesco Pagano, a spokesman for Circular.

(Press release/RAN)