Candle Labs, Inc., a Santa Barbara, California-based blockchain technology platform which is enable private ecosystem to connect with financial products announced it has raised $48 million in Series B funding round. Lead investor in that round were not disclosed.

This funding will help company to expand company business growth.

Candle Labs develops software for decentralized services and use-cases like as finance. The CNDL blockchain, for example, is used to connect decentralized financial tools.