As it begins its Pre-A Funding round, Malaysia-based Ficus Capital, an environmental, social, and governance (ESG) venture capital firm that complies with Islamic law, announced that it has made a strategic investment of $430,000 in Morpheus Labs, a Singapore-based Web3 implementation platform driven by artificial intelligence (AI).
According to a statement from Ficus Capital, the investment, which was made through the company’s flagship Ficus SEA Fund, is intended to support Morpheus Labs’ innovative efforts to streamline blockchain implementation, which will make it simpler for developers and companies to create, implement, and maintain decentralized applications.
It claimed that Morpheus Labs is ushering in a new era in the Web3 space by cutting time-to-market and optimizing workflows.
Alongside Ficus Capital’s investment, Startup Five Investment, a boutique investment fund and AVA Angels member that specializes in Web3, ESG, and digital transformation investments, is also joining the funding round as an early investor for this Pre-A round.
Morpheus Labs’ founder and CEO, Pei-Han Chuang, is also investing alongside Ficus and Startup Five, indicating even more internal and external faith in the company’s ability to transform Web3 development.
According to the statement, this group support highlights the increasing market trust in the company’s capacity to propel major innovation in the Web3 ecosystem.
Morpheus Labs is well-positioned to expand and innovate with this strategic investment, which has made it easier to secure a significant partnership with Viu, PCCW’s pan-regional over-the-top (OTT) video streaming service.
The goal of this partnership is to lead the way in developing new Web3 experiences for both users and creators.
By collaborating with Morpheus Labs, they hope to use blockchain technology to produce more captivating and immersive experiences on a range of media platforms, providing improved user engagement, digital rights management, and content monetization.
According to the statement, which cited Custom Market Insights, the global Web3 market is expected to grow at a compound annual growth rate (CAGR) of 68 percent from $4.8 billion in 2021 to $69 billion by 2030, underscoring the sector’s rapid expansion and opportunity.
“Our investment in Morpheus Labs reflects our belief in the transformative potential of Web3 and our confidence in Morpheus Labs’ ability to lead this revolution,
“Their comprehensive platform and ecosystem-first approach align with our vision of fostering sustainable, scalable, and impactful technological solutions,” said Rina Neoh, Managing Partner of Ficus Capital.
