Cambridge Blockchain, a blockchain-based identity startup, has raised over $1.7 million in new funding, CoinDesk reported.

The startup has raised $1,785,000 out of a total $2m, as stated in the Form D published by the US Securities and Exchange Commission.

According to previous SEC filings, Cambridge Blockchain started its fund raising efforts in March 2016 and raised $635k, out of a planned $1.5m. Later in October, the startup raised $1.09m out of a planned $1.8m.

Cambridge Blockchain was a graduate of the (2016) FinTech Innovation Lab, a 12-week program in which an elite group of growth technology companies are selected to be mentored by senior executives from the top financial services companies and some of New York's leading entrepreneurs and technology luminaries.

It is also one of the winners of the BBVA Open Talent, a program that is exploring and seeking innovative technological projects related to finance technology as well as projects affecting this industry that can influence its evolution in the transformation process.

Furthermore, Cambridge blockchain was also the winner of Distributed Ledger (DL) Challenge, hosted by Santander InnoVentures. Cambridge Blockchain was among five finalists, selected from more than 100 applications, to pitch directly to the judging panel at the Challenge final in New York on 27th January.