Decentralized design platform Moralis raises $13.4M in seed funding from EQT Ventures

Published at: Oct. 28, 2021

Moralis, a platform that powers decentralized applications, or dApps, announced Thursday that it has received a $13.4 million investment from EQT ventures.

The company said that it expects to use this seed capital for product development and corporate expansion. Moralis seeks to provide the blockchain space with a unique user-friendly interface solely for front-end development, while the company and its developers handle the entire back-end. The software can also provide complex services such as node management, authentication, and transaction indexing — which are needed for cross-chain networks, layer two solutions, and Web 3.0 applications. 

Moralis, which has been active since June, was founded in 2020 by CEO Ivan Liljeqvist (also known as Ivan on Tech) and COO Filip Martinsson. On its website, Moralis states that more than 35,000 blockchain projects are currently using their software and application programming interface, or API.

EQT Ventures is the venture capital division of the Swedish investment organization EQT Partners. According to CrunchBase, EQT Ventures has invested in 128 companies and completed 10 exits for a total funding amount of $60 million.

CEO Ivan iljeqvist issued the following statement regarding the new financing round:

“We’ve already seen massive, sustained adoption in our first few months, amassing over 50,000 developers since launch -- and the growth shows no sign of slowing. This immense interest further validates Moralis’ business proposition, showcasing how we solve the pain points with existing blockchain development.”

Based on data from State of the DApps, the total number of tracked dApps has grown to 3,692 in October — up from 3,342 in the same period the year prior. The vast majority of dApps are built on the Ethereum (ETH) blockchain. Total volume of transactions on these dApps amounted to $153.18 million in the past 24 hours.

Tags
Adoption
Technology
Blockchain
Business
Cryptocurrencies
Defi
Investments
Smart Contracts
Dapps
Related Posts
What are the most bullish cryptocurrencies to buy right now? | Find out now on The Market Report
The Market Report with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss what they believe are the top three most bullish coins one should take a closer look at. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as each makes his case for the most bullish cryptocurrency right now. …
Decentralization / May 3, 2022
Crypto wallets: An important battlefront to gain wallet share and mind share
Digital wallets are software constructs that mimic physical wallets and provide the functionality of storing, using and categorizing payment instruments. The journey of digital wallets started with payments and morphed to other forms of stubs such as digital passes, tickets and boarding passes. However, crypto wallets attempt to redefine the digital wallet landscape as something more than safe storage of payment and crypto instruments. With more than 100 crypto wallets and growing, this sector in the cryptosphere is getting crowded and adding further complexity to an already fragmented blockchain and digital asset space. As I study this space and try …
Decentralization / Aug. 29, 2021
The remaining steps to mainstream institutional investment
It has been said that you only get one chance to make a first impression. Perhaps the best example of this old adage is the cryptocurrency space. From exit scams and money laundering, to unaudited code and high carbon footprints, the crypto landscape has spent the better part of the past decade scrubbing itself of its infamous past. For many, the sanitizing of the decentralized ecosystem was inevitable — simply a matter of when, not if. This mindset hindered the sense of urgency that should have been on display and may have ultimately contributed to the skepticism exhibited by mainstream …
Adoption / May 29, 2021
Neo users explain why they've held on to the project despite China's heavy crypto crackdown
It's been a wild ride for Neo (dubbed "Ethereum of China") investors in the past few years, especially as China began to incrementally introduce harsher crypto regulations. But despite the odds, the community appears to be resilient, with a dedicated society of developers worldwide and a bourgeoning decentralized finance, or DeFi, hub that came into prominence via the launch of Neo N3 mainnet last year. As told by Neo investors Lucas and Jiří, who spoke to Cointelegraph, they were not expecting such a "huge drop in price" for Neo. Still, they nevertheless decided to hold their Neo tokens through all …
Decentralization / Feb. 28, 2022
What is opportunity cost? A definition and examples
Opportunity cost, explained Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen. Consider the scenario when you have a limited budget and are debating between buying a new laptop or going on vacation. The value of the vacation you could have taken with the same amount of money would be the opportunity cost if you decide to buy the laptop. Similarly, if you decide to take the vacation, the opportunity cost would be …
Decentralization / March 1, 2023