Stockholm-based blockchain development platform Moralis has secured $13.4 million in seed funding via EQT Ventures. The Swedish startup helps developers build and scale decentralised apps (dApps) without a tremendous amount of cost or complexity. The team reports that the funding will be used to continue product development, as well as make key hires across the board.
Moralis was founded in 2020 by Ivan Liljeqvist (CEO) and Filip Martinsson (COO) and has been live since June of this year. Both founders have deep experience in the blockchain world, with Ivan running the 450,000+ subscribers YouTube channel, Ivan on Tech, the duo has trained more than 30,000 students via the Ivan on Tech Blockchain Academy.
And it’s this training ground that’s led directly to the foundation of Moralis. With nearly 25 million developers worldwide, only a fraction of them, some 200,000, are working within Ethereum, the largest blockchain developer ecosystem. You see the disparity here? Recruiting talent remains one of the biggest stumbling blocks in the advancement of blockchain projects.
In order to encourage more developers to dive deep into the developing world of the blockchain and its associated dApps, Moralis is seeking to tear down a number of obstacles that developers face; user authentication, node management, real-time notifications, data indexing, and data aggregation. Now add cross-chain, i.e. the ability for two independent blockchains to interact and communicate with each other, and Layer-2 solutions headaches, and it can be enough for any traditional developer to quite bluntly say, “no thanks,” to and carry on about their business of business.
Moralis steps in as the middleware and aggregates a long list of services ranging from node management, authentication to real-time and historic transaction indexing. By placing all of this info in a single SDK, Moralis wants to become the de facto bridge between Web2 and Web3. In doing so, today, developers can build scalable dApps within a matter of days, instead of months.
“We are overwhelmed by the positive feedback and excitement from the blockchain community; building dApps should be as easy as building websites and that’s the big vision of Moralis,” commented Liljeqvist. “We’ve already seen massive, sustained adoption in our first few months, amassing over 30,000 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.”