Modular Cloud raises $1.7M Pre-Seed Round to Build Blockchain Tools
It is reported that Modular Cloud, a blockchain tool provider, has completed a $1.7 million Pre-Seed round of financing last year. Maven11 and Blockchain Capit…
It is reported that Modular Cloud, a blockchain tool provider, has completed a $1.7 million Pre-Seed round of financing last year. Maven11 and Blockchain Capital jointly led the investment, and NFX, Celestia Foundation and Eclipse participated in the investment. The funds raised will be used to build a block browser for the modular blockchain and recruit employees. At present, Modular Cloud is only operated by its two co-founders. （The Block）
Modular Cloud completed $1.7 million of Pre-Seed round financing
Interpretation of the news:
Modular Cloud, a blockchain tool provider, has successfully raised a total of $1.7 million in a Pre-Seed round of financing. Maven11 and Blockchain Capital jointly led the investment, while NFX, Celestia Foundation, and Eclipse also participated in the funding. The company aims to use the funds raised to build a block browser for its platform and to recruit new employees.
The current status of Modular Cloud is that it is only being operated by its two co-founders. The financing round is a significant milestone for the company, as it will allow them to expand operations and offer their services to a wider range of customers. The company’s goal is to provide blockchain tools and services for organizations that wish to integrate blockchain technology into their operations.
Modular Cloud’s approach to building blockchain tools is unique in that it offers a modular approach to blockchain design. This means that their platform can be customized to fit the specific requirements of an organization. Their platform can scale to accommodate organizations of all sizes, from small businesses to large corporations.
The investment in Modular Cloud by Blockchain Capital is not surprising, as the company has been making significant investments in the blockchain space over the past few years. Their portfolio includes companies like Coinbase, BitGo, and Chain. Blockchain Capital’s investment is indicative of the growing interest in blockchain technology and its potential to revolutionize a wide range of industries.
In conclusion, Modular Cloud’s successful Pre-Seed round of financing is a positive sign for the future of blockchain technology. It indicates that there is growing interest in blockchain tools and services, and that there is a willingness to invest in companies that are working to advance the technology. The company’s focus on customizable, modular blockchain design is an innovative approach that sets it apart from other blockchain tool providers. As the company continues to grow and expand, it will be interesting to see how it can help organizations of all sizes to leverage blockchain technology to their advantage.
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