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

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）

Interpretation of this information:

Modular Cloud, a blockchain tool provider, has successfully raised $1.7 million in Pre-Seed funding from Maven11 and Blockchain Capital, with participation from NFX, Celestia Foundation, and Eclipse. The funds will be used to build a block browser for the modular blockchain and expand the team beyond its two co-founders.

The modular blockchain aims to improve scalability and interoperability by allowing users to combine different blockchain technologies. The block browser will make the modular blockchain more accessible to end-users, as they will be able to explore blocks, transactions, and smart contracts across different blockchain protocols.

The success of Modular Cloud’s Pre-Seed round suggests that investors are still bullish on blockchain technology, even after the 2017 ICO boom and bust. While most blockchain startups today are focused on decentralized finance (DeFi) and cryptocurrency trading, Modular Cloud’s focus on infrastructure and interoperability suggests that the blockchain industry is still expanding beyond these applications.

The choice of investors also indicates a growing interest in blockchain technology beyond Silicon Valley. Maven11 is a Dutch venture capital firm that invests in innovative technologies, while Blockchain Capital is a San Francisco-based venture capital firm that has invested in more than 100 blockchain startups. Celestia Foundation, based in Switzerland, is a non-profit organization focused on developing decentralized technologies for social good, while Eclipse is an Italian venture capital firm that invests in digital transformation.

In summary, Modular Cloud’s successful Pre-Seed funding round suggests that there is still a significant demand for blockchain infrastructure and interoperability. The fact that investors from different parts of the world participated in the funding round indicates that blockchain technology is no longer limited to Silicon Valley and that it has global potential. The three keywords that summarize this message are blockchain infrastructure, interoperability, and global investment.