DLA Piper has advised Luther Systems, the London-based enterprise blockchain technology company, on the raising of $1.5 million in seed financing from a group of global investors ahead of its official launch.

Currently operating in stealth mode, Luther Systems uses its blockchain technology and smart contract based products to solve complex large-scale business inefficiencies across a wide spectrum of industries and sectors. The new funding will allow Luther Systems to scale its product offering and support the company’s marketing and expansion efforts.

Co-founded in 2016 by Hossein Kakavand (PhD Stanford, ex-Funding Circle) and Sam Wood (Ex-Tesla and Apple engineer), Luther Systems have deep expertise in both enterprise systems and growing and scaling early-stage companies.

Commenting on the deal, Corporate partner Jon Kenworthy and associate Dylan Kennett, said: "We are delighted to have advised Luther System in this milestone transaction. They are one of the companies at the forefront of the huge paradigm shift we are seeing, where technology is completely changing business across the world. Luther's technology platform will revolutionise business processes, regardless of the sector in which the business operates. We look forward to seeing what they do next."

Hossein Kakavand, Co-Founder and CEO, Luther Systems, added: “This investment illustrates the huge potential for the proprietary blockchain technology Luther Systems have built, which is applicable across a wide variety of sectors. We are excited to announce the projects we have been working on over the next few months, where our products are delivering real value to business critical operations. We look forward to growing and scaling our business and technology with this new support.”

The London-based DLA Piper team was led by Corporate partner Jon Kenworthy and associate Dylan Kennett.