Moralis, a Web3 development platform, announced the completion of its $40 million Series A fundraising round on Wednesday.
Angel investors in Moralis Series A funding
EQT Ventures, Coinbase Ventures, Fabric Ventures, and Dispersion Capital are among the angel investors in the platform.
The company also raised $13.4 million in its seed round in 2021. However, information about the current worth of the company is not available.
Moralis platform and utilization of new funds
According to information, the funds raised in Series A round will be used for product development, boosting user experience, and expanding to accommodate larger customers.
Moralis is a Stockholm-based company and was launched in June 2021. It provides a cross-chain infrastructure for developers to build and deploy applications, games, and NFTs.
The company develops solutions which address problems faced by developers while transitioning from web2 systems to decentralised blockchain apps. According to the firm, customer feedback shows that its platform has saved developers more than $86 million in engineering expenditures.
On the $40 million Series A fundraising round, the company’s co-founder and CEO Ivan Liljeqvist said the followings:
“The company is sure that web3 is the next edition of the internet, and we view ourselves as the ideal partner for developers looking to make the transition from web2 to web3.”
This is the latest step in which investors are adding a large number of web3 adoption programmes to their collection.
