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Iteum is pleased to announce that the project has officially closed its seed round with $1.5 million in funding received from Morningstar Ventures. This is considered an important milestone to help Iteum continue to deploy and build technology and perfect its products in the future.
Iteum is the world’s first decentralized cross-chain data brokerage platform, where users have complete autonomy and control over their data in a whole new way.
Iteum received this funding as part of the $15 million Elrond Dubai Incubator initiative funded by Morningstar Ventures in October 2021. Iteum was the first project selected from a group of more than 100 bright candidates. With the money raised, Iteum will be used to promote and influence in the Middle East region, especially reinforcing the image that makes users remember Iteum as a leading decentralized data brokerage platform.
To learn more about the program, users can read this paragraph.
However, this is only the beginning, Morningstar promises to help Iteum on the upcoming journey even more.
Mark Paul, Founder of the Iteum project said: “Itheum couldn’t be more delighted to be working with Morningstar Ventures and their amazing team. They are providing Iteum with the necessary resources and expertise we need to drive Iteum further, and we look forward to a long-term partnership with them to revolutionize features together. and main service of lIthium products.”
Danilo Scarlucci, CIO Morningstar Ventures also had a few words to share: “After careful consideration among hundreds of projects over the past three months since we announced the Dubai Elrond incubator, we are delighted to reveal Itheum to our community. They really caught our attention with their unique value proposition when it comes to protecting user data and monetizing it through decentralized trading. They continue to impress us with their cross-chain functionalities, NFT and metaverse applicability, and innovative concepts when it comes to data monetization…”
About Morningstar Ventures
Morningstar Ventures is a venture capital fund that helps support and fund innovative initiatives proposed by early-stage blockchain projects. The company is headquartered in Dubai, United Arab Emirates and is primarily focused on startups in the blockchain and digital asset industries.
Iteum provides a set of tools that allow high-value data to be bridged from Web2 to Web3 and then transacted peer-to-peer without any centralized intermediary. This will help users keep their data safe and secure, and easily join the Web3 and Metaverse data economy.
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