Itheum is excited to announce that they have officially secured $1.5 million in funding from Morningstar Ventures during its investor seed round. This marks a huge milestone to help them continue to deploy and build their technology and products to transcend peer-to-peer decentralized data trading, bringing new opportunities to the masses.
Itheum is the world’s very first decentralized cross-chain data brokerage platform where users have full autonomy and control over their data, completely flipping the switch in this market.
Itheum has received this funding as part of a $15 million Elrond Dubai Incubator initiative launched by Morningstar Ventures in October 2021. Itheum team is pleased to note that they are the first to be chosen from a pool of over 100s of candidates and are excited to build on Elrond and ramp up its ecosystem as well.
This seed round only marks the beginning of other potential funding opportunities, with Morningstar taking the lead to help them propel to the next level.
“We really couldn’t be more thrilled to be working with Morningstar Ventures and their amazing team. They’re providing us with the necessary resources and expertise we’ll need to drive Itheum from the ground up, and we look forward to a long and fruitful partnership to help revolutionize our product’s key features and offerings.”— Mark Paul, Itheum Project Founder
Itheum empowers data ownership in the Web3 and Metaverse ecosystems and creates new market value for your data. It enables this by providing “decentralized data brokerage” technology. It’s a suite of tools that enable high-value data to be bridged from web2 to web3 and then be traded via peer-to-peer sales.
ABOUT Morningstar Ventures
Morningstar Ventures is an investment firm that helps support and fund creative initiatives proposed by early-stage blockchain projects. The venture capital firm is based in Dubai, United Arab Emirates, and mainly targets startups within the blockchain and digital asset industry. They participate in digital asset and equity investments and are heavily interested in the Elrond ecosystem and associated projects.