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Saudi Aramco invests millions into Blockchain smart contract provider

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  For the fourth time since 2019, Saudi Aramco Energy Ventures, a subsidiary of Saudi Aramco has participated in an investment round in Data Gumbo, the blockchain enabled smart contract provider. This time Data Gumbo raised 4 million USD in its Series C round led by Saudi Aramco Ventures and Equinor, Norway’s energy operator. In 2019, Data Gumbo the Houston based blockchain Technology Company which had developed a Blockchain-as-a-Service (BaaS) platform to streamline smart contracts management for industrial customers, completed a 6 million USD Series A equity funding round co-led by Saudi Aramco Energy Ventures, and Equinor. Then in 2020, Data Gumbo, closed its Series B funding round of 4 million USD led by new investor L37, a Bay Area and Houston-based venture capital company, with Saudi Aramco Energy Ventures as a participant in the round. In 2021 once more Data Gumbo closed a Series B funding round totaling 7.7 million USD with follow-on investments led by Equinor Venture