Itheum Closes $1.5 Million Seed Round Funded by Morningstar Ventures

Itheum is incubated and funded by Morningstar Ventures

We’re excited to announce that we’ve officially secured $1.5 million in funding from Morningstar Ventures during our investor seed round. This marks a huge milestone to help us continue to deploy and build our 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.

Partnership Details

Itheum has received this funding as part of a $15 million Elrond Dubai Incubator initiative launched by Morningstar Ventures in October 2021. Our team is pleased to note that we 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.

To learn more about the program itself, make sure to check out Morningstar’s article.

This seed round only marks the beginning of other potential funding opportunities, with Morningstar taking the lead to help us propel to the next level. A huge thanks to Morningstar Ventures and their team — we’re paving the road ahead, one step at a time.

Mark Paul, our project’s Founder, had this to say about the investment:

“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.”

The team at Morningstar Ventures commented:

“After careful consideration of the project’s up for selection, Itheum really caught our eye given its unique value proposition when it comes to protecting user data and monetizing data through decentralized trading. Their team continues to impress up with introducing multi-chain functionalities, applicability in the NFT and metaverse worlds, creative concepts when it comes to data monetization, and so much more.”

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.

About Itheum

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. It allows for “viral adoption” via our creative “Data NFTs” (provide “inner value” to NFTs and enable royalties / limited supply) and “N.F.Me” technology (a living Metaverse avatar representation of you — wrapped as an NFT and backed by personal data) and our innovative Data Coalition DAOs (which bulk trades your data). It also aims to be fully privacy-preserving, regulation-friendly and cross-chain; making it the most comprehensive core blockchain data infrastructure available in the market with use-cases in both the enterprise and consumer space.

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