TLDR:
Singapore-based Morph EVM has secured $20 million in funding to enhance layer 2 blockchain technology. The funding will be used for talent acquisition, developer incentives, marketing, and technical infrastructure improvements. The company plans to launch its mainnet beta in the second quarter of 2024. Venture capital interest in blockchain startups is on the rise, with notable firms and figures participating in Morph’s funding rounds.
Article Summary:
Singapore-based Ethereum layer 2 Morph has successfully raised US$20 million through seed and angel investment rounds, with the primary US$19 million seed round led by Dragonfly Capital. The funding will be channeled into talent acquisition, developer incentives, marketing, and technical infrastructure improvements. The company, founded last year, is currently running a public testnet and anticipates the launch of its mainnet beta in the second quarter of 2024. Notable firms, including Pantera Capital, Foresight Ventures, the Spartan Group, MEXC Ventures, Symbolic Capital, Public Works, MH Ventures, and Everyrealm, contributed to Morph’s funding round. The angel round attracted key figures such as Polygon’s Sandeep Nailwal and Nansen’s Alex Svanevik. Morph also announced an incentives program offering up to 100,000 USDT to selected projects and allocating airdrops to ecosystem projects that will be mainnet launching partners.
