Moralis, a platform that runs decentralized applications, or dApps, announced a $13.4 million investment from EQT Ventures on Thursday.
According to the corporation, this seed funding will be used for product development and corporate expansion. Moralis‘ goal is to give the blockchain sector a one-of-a-kind user-friendly interface just for front-end development, while the firm and its developers manage the entire back-end.
Complex services such as node administration, authentication, and transaction indexing can also be provided by the software, which is required for cross-chain networks, layer two solutions, and Web 3.0 applications.
Moralis was created in 2020 by CEO Ivan Liljeqvist (also known as Ivan on Tech) and COO Filip Martinsson. It has been in operation since June. According to Moralis’ website, over 35,000 blockchain projects are currently employing its software and application programming interface, or API.
EQT Ventures is the venture financing arm of EQT Partners, a Swedish investment firm. According to CrunchBase, EQT Ventures has invested in 128 businesses and accomplished 10 exits totalling $60 million in capital.
Regarding the new fundraising round, CEO Ivan iljeqvist issued the following statement:
“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.”
According to data from State of the DApps, the overall number of tracked dApps increased to 3,692 in October, up from 3,342 in the same month the previous year. The Ethereum blockchain serves as the foundation for the vast majority of dApps. In the last 24 hours, the total volume of transactions on these dApps was $153.18 million.