Total amount raised
$2.7 Billions
Latest funding date
7/1/2021
Location
Ethos has successfully raised $4.2 million in a Seed funding round, backed by 11 investors including Alliance DAO, Matrixport, and Meltem Demirors. The platform offers affordable online life insurance with instant quotes, emphasizing a quick and easy application process.
Keep reading to explore the intricacies of Ethos' fundraising journey and the investors backing this innovative platform.
What Is Ethos?
Founded in 2020, Ethos is based in San Francisco, California. The company specializes in providing a react library for web developers to integrate an in-dapp wallet, complete with hooks for blockchain interaction and utility functions for dApp development.
With a small team of 1-10 employees, Ethos focuses on making decentralized application development more accessible and efficient. The founders' names are not explicitly listed, but the team includes roles such as Co-Founder, CTO, and Founder.
Ethos aims to streamline the development process for web developers by offering essential tools and resources, ensuring a seamless integration of in-dapp wallets into their projects.
How Much Funding Has Ethos Raised?
- Seed Round
- Amount Raised: $4.2M
- Date: January 2023
- Lead Investors: Boldstart Ventures, gumi Cryptos Capital (gCC)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds will be used for hiring, continued development of the wallet and developer infrastructure, and expanding the product beyond traditional wallet capabilities.
Total amount raised: $4.2M. Current valuation: Not publicly disclosed.
Key Investors
- Boldstart Ventures
- Details: Boldstart Ventures is a venture capital firm that focuses on seed and early-stage investments. They are known for backing enterprise software and developer-first startups.
- Investment Focus Areas: Enterprise software, developer tools, infrastructure.
- Notable Investments: Snyk, BigID, Kustomer.
- gumi Cryptos Capital (gCC)
- Details: gumi Cryptos Capital is a venture capital firm specializing in blockchain technology and cryptocurrency investments. They aim to support the growth of decentralized applications and digital assets.
- Investment Focus Areas: Blockchain technology, cryptocurrency, decentralized applications.
- Notable Investments: OpenSea, Yield Guild Games, Qredo.
- Mysten Labs
- Details: Mysten Labs is a blockchain infrastructure company founded by former Meta employees. They are the creators of the Sui blockchain, which aims to provide scalable and secure decentralized applications.
- Investment Focus Areas: Blockchain infrastructure, decentralized applications.
- Notable Investments: Sui blockchain.
- Tribe Capital
- Details: Tribe Capital is a venture capital firm that invests in technology and financial services startups. They leverage data science to identify and support high-potential companies.
- Investment Focus Areas: Technology, financial services, consumer products.
- Notable Investments: Carta, Relativity Space, Bolt.
- Matrixport
- Details: Matrixport is a digital asset financial services platform that offers a range of products including trading, lending, and asset management. They aim to bridge traditional finance with the digital asset economy.
- Investment Focus Areas: Digital asset financial services.
- Notable Investments: Bitmain, Bitdeer.
What's Next for Ethos?
Ethos is poised to capitalize on the burgeoning opportunities within the blockchain space. With $4.2 million in seed funding, the company plans to expand its wallet capabilities, making blockchain interactions safer and more user-friendly. Leveraging the expertise of former Meta employees and the Sui blockchain, Ethos aims to develop new applications and on-chain games, positioning itself at the forefront of decentralized application innovation.
Future fundraising seems promising, given the strong backing from notable investors. However, Ethos will need to navigate technical challenges and intense competition in the crypto wallet market. Ensuring user safety and maintaining momentum will be crucial as the company scales its operations and seeks additional funding.
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