Zebi acquires blockchain start-up Element42

: Zebi, a leading blockchain company, Wednesday said it had acquired Element42, a Bengaluru-based blockchain start-up for an undisclosed sum.

According to a press release issued by the company, Zebi has made the acquisition to bolster the strength of its in-house blockchain engineering talent while adding new products and customers.

Element42 was founded by Pruthvi Rao, an IIT Kharagpur alumnus, to provide its customers anti-fraud and transparency solutions.

The platform uses blockchain, IoT and analytics to provide protection against fraud and counterfeiting.

Zebi co-founder and CEO, Sudheer Kuppam, said "this endeavour gives fantastic momentum to Zebi. With the combined resources, we are looking forward to developing and launching many more innovative products targeting Telecommunications, BFSI and logistics industries in the coming months.

"Our goal is to firmly establish Zebi as the preeminent leader in real world applications leveraging blockchain technology," he added.

Element42 CEO, Pruthvi Rao, said, "Zebi's core technology will not only allow us to strengthen our existing offerings, but also help develop new products. This will surely be the biggest blockchain story in a few years to come.