Nordic Startup News Early Stage Startup News From The Nordics
Altermail, worlds’ first blockchain-based communication platform, offers an alternative to email, messaging and file sharing. Altermail disrupts existing information sharing with the help of the latest technological innovation in blockchain. The company has attracted $75 200 from two grant programs and looks to scale its service with the next financing round.
Altermail addresses the gap in how people communicate online by providing a secure communication solution to anyone, individuals and businesses, seeking higher control over its data sharing and privacy management. The application of blockchain-based technology ensures that the exchange of encrypted information is only available to the information holder via a unique private key. The use of this technology eliminates the need to provide consent to use private data for the communication platform provider. Therefore the users’ identity and data remains confidential, in contrast to the traditional setup where email providers are free to share data with its partners for commercial purposes.
The reliability of the service is based on blockchain technology provided by the Secret Network & SCRT Lab’s proven smart contract technology. Altermail operates on a broad network of servers using Storj.io as file storage partner – currently 84 servers worldwide hold encrypted information of each Altermail user. To ensure additional security, each accounts’ files are scattered across multiple servers.
Plans to scale as part of Nordic Startup School
The current client-base of the company are businesses in the legal industry and individuals who value cost-efficient, safe communication service and are frontrunners in leveraging blockchain technology for their personal and business privacy management needs. Existing client base mainly is based in the US, France, Sweden, Germany, Japan, China, Russia and Mexico.
“Work on Altermail started in April 2021 with the assembling of the team to develop the solution and source the right skills to scale it. After we built the product and registered the business in August 2021, the company had so far attracted $75 200 or €65 000 funding from Secret Network and European Institute of Innovation and Technology (EIT). We are now part of the Nordic Startup School to get the necessary mentoring for the next round of funding, planned for up to $6,9 or €6 million.” – Altermail Co founder and CEO Oskars Jepsis shares.
The company plans to scale its service up to 10 000 users until the end of the year and enter negotiations with venture capital firms who have already reached out to foster Altermail business development. Company also plans to release its own token for community governance – each holder will have access and ability to impact Altermail product development.
