Sramana Mitra: You’re positioned as a middleware? Yuval Rooz: Exactly. That plays very well in the market. Sramana Mitra: You did this repositioning in 2018? Yuval Rooz: Yes.
Sramana Mitra: At this point, did you have outside financing? What is happening on the financing side? Yuval Rooz: We only raised funding from some of the early investors and friends and family. Sramana Mitra: How much money was in the company? Yuval Rooz: I think in the early days we brought in $2 million
Yuval Rooz: For the past five years, we’ve been developing an open-source language just to describe the interconnected application. The second component of our product is compatibility. When you want to run these applications, there are all kinds of technologies that you can run it on. Let’s take the analogy of Java language. You can
Sramana Mitra: Let’s talk about how you got the company off the ground. What were the first few steps? What was the concept, genesis, and the concept of validation? Yuval Rooz: Not only was this a very nascent technology, but it was also associated with cryptocurrency and Blockchain. There was also some negativity in the
Yuval Rooz: I landed at DRW, a trading company based out of Chicago. I quickly fell in love with the company because it was an entrepreneurial company. The owner, Don Wilson, allowed the employees to explore new ideas as long as those ideas were aligned with what the company does. I enjoyed that environment.
I always love to cover entrepreneurs who push the envelope on high horsepower technology. Digital Asset has. Fascinating story! Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born and raised? What kind of background did you have?