Quick take:
- The company will use the fresh capital to accelerate the development of the Morph ecosystem.
- Morph is building a seamless consumer blockchain experience “for the future”.
- The company is incentivising developers to build on its platform with a support structure throughout their project’s journey.
Consumer-focused blockchain Morph has completed a $20 million seed round led by Dragonfly Capital. The fundraising also attracted participation from Pantera Capital, Foresight Ventures, The Spartan Group, MEXC, Symbolic Capital, MH Ventures, Everyrealm and Public Works.
Polygon’s Sandeep Nailwal, Alex Svanevik, naniXBT, and Dingaling were among those who joined as angel investors. The company plans to use the fresh capital to accelerate the development of the Morph ecosystem.
Morph is building a seamless consumer blockchain experience “for the future”. The company is inviting builders to its Ethereum-based L2, with the promise of providing a support structure throughout their project’s journey.
“Our mission is to empower builders, offering clear guidance, and a clear recommended trajectory. This means comprehensive support throughout the entire journey of project development,” Morph wrote in a blog post on Medium.
“What we’re bringing to the table is the most builder-friendly pipeline, so do reach out!!” Morph COO and co-founder Azeem said.
Some of the programs and events that developers can look to take advantage of include hackathons, an incubator program that grants selected projects with up to 100,000 USDT, and a chance to feature their projects in the testnet premier, being spotlighted on the Morph mainnet, and an opportunity to access investment from Morph’s portfolio of partners including Dragonfly, Pantera, Spartan Group, and many more.
Morph CEO and Co-founder, Cecilia Hsueh commented: “Today marks yet another significant milestone in Morph’s journey as we continue to expand our ecosystem with partners and investors who share our vision of advancing the blockchain industry into the mainstream.
Morph is poised to revolutionize the utilization of blockchain technology across various sectors including entertainment, finance, social, and gaming.”
Morph has also collaborated with Bitget to help developers in its ecosystem easily integrate non-custodial wallet services. The company also provides token listing support and an opportunity to form connections with industry leaders within the Morp ecosystem.
“Morph’s sophisticated new-generation technology combines the efficiency of optimistic roll-ups with the securityof zero-knowledge roll-ups to enhance scalability,” said Paul Veradittakit, Managing Partner at Pantera Capital.
Haseeb Qureshi, Managing Partner at Dragonfly Capital added: “As the first Layer 2 on Ethereum to launch with a decentralized sequencer, Morph brings endless user-friendly opportunities to developers. We’re excited to join the Morph team as they continue to scale.”
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