Moralis, a platform that powers decentralized applications, or DApps, announced Thursday that it has received a $ 13.4 million investment from EQT companies.
The company said it plans to use this seed capital for product development and business expansion. Moralis seeks to provide the blockchain space with a single, user-friendly interface only 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 required for cross-chain networks, layer two solutions, and Web 3.0 applications.
Moralis, 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 says that more than 35,000 blockchain projects are currently using its software and application programming interface (API).
EQT Ventures is the venture capital arm 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.
Liljeqvist issued the following statement regarding the new funding round:
âWe’ve already seen massive and sustained adoption in our first few months, bringing together over 50,000 developers since launch, and growth shows no signs of slowing down. This immense interest further validates Moralis’ business proposition, showing how we solve the issues surrounding the development of the existing blockchain. “
Based on data from State of the DApps, the total number of tracked DApps increased to 3,692 in October, up from 3,342 in the same period the previous year. The vast majority of DApps are built on the Ethereum blockchain. The total trading volume on these Ethereum-based DApps has risen to $ 153.18 million in the past 24 hours.