Morpheus Labs receives investment at $2m valuation

Blockchain platform developer Morpheus Labs has received an undisclosed investment, which values the company at $2m.

The investment was made by an unnamed Chinese angel investor.

Following this investment, the Singapore-based company has launched its blockchain enterprise app store in South East Asia. Users access the store to find, experiment and deploy various blockchain technologies which can be integrated for their platform.

The ‘blockchain-as-a-service’ enables businesses to test and prototype blockchain technology within a safe environment and access to a range of technology developers.

Capital from the round will be used to introduce new cloud-based blockchain platforms, which will change blockchain application development, while simplifying prototyping.

Morpheus Labs co-founder Chuang Pei-Han said, “We are positioning ourselves to be the Apple of the blockchain industry. We are removing barriers of entry like upfront installation costs, providing access to open-source applications and boosting time to market for all parties. Our new technology and fresh approach create a frictionless blockchain ecosystem that fosters product innovation.”

The company is set to launch an ICO, with an early-bird sale set to open on January 22nd. Morpheus Labs is selling its MIT token during the ICO, which can be used to buy services and products, platform subscriptions, distributorship licencing and token swaps.

Following the close of the ICO, the company will look to develop its tools to support co-working and group development projects. Morpheus Labs will also look to launch a partnership campaign in the Rest of Asia, and UAE regions, as well as starting a blockchain lab in SouthEast Asia.

Copyright © 2018 FinTech Global

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