Modular Cloud raises $1.7 million in Pre-Seed round to build a blockchain browser and expand team

02/16/2023 00:27 • Blockchain Briefs • 115 views

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

Analysis based on this information:

Modular Cloud, a blockchain tool provider, has successfully raised $1.7 million in Pre-Seed funding, according to a report by The Block. The investment was led by Maven11 and Blockchain Capital, with participation from NFX, Celestia Foundation and Eclipse. The company plans to use the funds to build a block browser for the modular blockchain and expand their team of employees. Currently, Modular Cloud is run solely by its two co-founders.

This news is significant for Modular Cloud, as it highlights the growing interest in blockchain technology and the potential it holds. The company’s ability to secure funding from prominent investors like Maven11 and Blockchain Capital shows that there is confidence in the vision and direction of the company.

The decision to use the funds to build a block browser for the modular blockchain is a strategic one. A block browser is a tool that enables users to search the blockchain for specific transactions or information. This feature is essential for the functionality and practicality of blockchain technology, and building a block browser will undoubtedly enhance the user experience for Modular Cloud’s customers.

The other plan of the company to recruit more employees also signifies growth and expansion, which is necessary to keep up with the demand for their services. With the funds from the Pre-Seed round, the company will be able to add skilled professionals to their team, which will only serve to enhance their products and services.

The fact that Modular Cloud is currently only run by its two co-founders is an indication of their commitment, passion and dedication to the project. However, for the company to grow and expand, it is essential to have a strong team in place. The current funding round will allow the company to recruit experienced professionals who can bring their unique skills and ideas to the table, furthering the development and progress of the company.

In summary, the successful completion of the Pre-Seed funding round is a significant achievement for Modular Cloud. The company’s plan to use the funds to build a block browser for their modular blockchain and expand the team is a smart move that will benefit both the company and its customers. It will be interesting to see how they utilize the funds and continue to grow and develop in the blockchain industry.

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Modular Cloud raises $1.7 million in Pre-Seed round to build a blockchain browser and expand team

Modular Cloud completed $1.7 million of Pre-Seed round financing

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