Popular Ethereum developer framework Truffle has spun-out of ConsenSys, receiving $3 million in funding to take on corporate clients

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Truffle Suite, a popular ethereum development framework with over 1 million downloads, has recently been spun-out of ConsenSys; receiving $3 million in funding as it plans to expand into solutions dedicated to enterprise clients, Forbes writes.

The funding it received comes from ConsenSys, with its founder Joe Lubin joining Truffle as a board member. Truffle will use the funds to develop “enterprise-grade suite of blockchain development tools” as well as hire new talent.

According to the announcement, Truffle is now joining forces with Axoni, Goldman Sachs and JPMorgan-backed company. They’ll be working together on AxCore which is going to be adopted by the DTCC’s Trade Information Warehouse to process transactions amounting to $10 trillion a year. Prior to formalising the partnership, Axoni had been using Truffle’s open-source software.

“Enterprise adoption is finally happening because the maturity of our space is finally advancing to a level where enterprises can capitalize,” said vice president of partnerships at Truffle, Wes McVay. “Not only that, but they have the funds to invest into making this the experience that it should be, the technology that it should be.”

Truffle may soon be announcing its first enterprise clients as well. It plans to integrate with solutions such as JPMorgan’s Quorum blockchain and Intel’s Hyperledger Sawtooth, among others.

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