November 29, 2022

The firm provides a development platform for building and launching Web3 games, apps, and NFTs.

Source: businesstimes.com.sg
Source: businesstimes.com.sg

Web 3 development platform Moralis has raised $40 million in a Series A funding round, money that it will use to ramp up product development, improve the user experience, and increase capacity for more and larger clients. Coinbase Ventures, the investment arm of crypto exchange Coinbase (COIN), was among the investors.

Stockholm-based Moralis offers infrastructure that lets developers build and launch Web3 apps, games, and non-fungible tokens (NFTs) across blockchains.

Founded in June 2021 by Ivan Liljeqvist (YouTuber Ivan on Tech) and Filip Martinsson, Moralis develops software and application programming interfaces (APIs) that combine user authentication, identity management, historic and real-time transaction information, and session management to make it easier for developers to make the transition between Web2 and Web3.

Investors in the round included European fund EQT Ventures, Fabric Ventures, and Dispersion Capital, among others. EQT Ventures led the $13.4 million seed round for Moralis last year.

“We are very excited to be continuing our journey with Moralis,” Laura Yao, a partner at EQT Ventures, said. “Ivan and Filip have built an ambitious team committed to democratizing the current Web 3 landscape by opening it up to more and more developers”.