Blockchain start-up Covee gets 1,35 million euros

LocalGlobe, Atlantic Labs and other investors are pumping € 1.35 million into start-up Covee. Covee is a platform for decentralized teamwork based on blockchain.

Covee - blockchain startup from Berlin receives cash injection

Covee was founded in 2017 by Marcel Dietsch, Raphael Schöttler and Jochen Krause in Berlin, but moved his seat to Zurich. Marcel Dietsch previously worked as investment fund manager in London. Raphael Schöttler is his longtime friend and previously worked at Deutsche Bank and the Federal Ministry of Finance. Jochen Krause is one of the earliest blockchain investors . Prior to founding Covee, he worked as a data scientist at Scalable Capital and Valora.

The startup's goal is to create a blockchain-based platform that enables decentralized teamwork. The focus is on the exchange and exploitation of data about the Blockchain and the cooperation of experts, without being bound to traditional working conditions. Covee recently announced that it has received 1.35 million euros through seed funding. The investor LocalGlobe led the round of financing and venture capitalist Atlantic Labs and other angel investors were also involved.


Blockchain-based teamwork

Covee's Blockchain platform is designed to bring together domain experts, computer scientists, statisticians, and machine learning experts to work on complicated, data-related issues. These include topics such as Radiomics, which uses machine learning to diagnose cancer, algorithmic trading, business analytics, and complex software development issues. The blockchain fulfills the task that also came to the Internet: the distribution of data . Furthermore, Covee should make it easier for these experts to work together on projects.

For the team, the current labor market conditions are not created to work flexibly and sometimes spontaneously on projects in the Internet industry. The blockchain of Covee performs a similar function to that of operator companies . Various experts and specialists are involved in projects . Basically, it's about project coordination. Only the coordination on the Blockchain should happen much faster and more flexible .

The Blockchain own tokens should serve as an incentive to use the platform. The employment relationships and contracts are handled and monitored by Smart Contracts. The team is working on the alpha version and is still testing the implementation of Ethereum-based smart contracts. The alpha launch is scheduled for mid-2018.