The creators of the open-source DAML smart contract language, Digital Asset (DA), has raised approximately $35 million in Series C funding from new and existing investors. According to DA, the latest financing round brings the total amount raised by the company to $150 million.
Yuval Rooz, co-founder and CEO of DA, explained that DAML allows users to focus on your product while eliminating complexity:
“Ninety percent of development time is wasted on undifferentiated work. With this new funding, we will go further on this mission to focus on the 10 percent value-add by providing a world class smart contract experience regardless of where your application runs.”
DAML is described as a “next-generation smart contract language.”
Digital Asset provides commercial integrations of DAML with partner platforms to enable a variety of organizations – from big corporations to start-ups. In April, the company announced a partnership with VMware to integrate DAML with VMware Blockchain.
Subsequently, further integrations with Hyperledger Sawtooth, Hyperledger Fabric, Corda, and Amazon’s QLDB and Aurora databases have been announced.