nealthy, a startup that seeks to democratise investment in Web3 technologies via indices, has made a strategic move to Dubai and bagged $1.3m.
The relocation comes shortly after the widely recognised project collected $1.3m in pre-seed funding to boost its team and speed up development.
The fundraising round saw a sum of $1.3m invested into nealthy to accelerate its growth. The names of the investors have not been disclosed at this stage.
nealthy is carving out a new path in the Web3 space by providing index tokens that mimic the structure of conventional exchange-traded funds (ETFs). In a bid to break down the barriers to digital asset investment, nealthy houses a variety of digital assets in on-chain vaults, constructs a diversified portfolio, and issues a corresponding token. Their initial offering is the $nNFTS token, which holds its true value by pegging to reputable blue-chip NFTs.
The funds from the recent pre-seed round are earmarked for growing nealthy’s core team and fostering rapid development of the platform. This would ultimately bring the company’s innovative investment solutions to a larger user base, expanding the accessibility of digital asset investment globally.
Additional information in the press release also highlighted that nealthy’s transition to Dubai aligns with their ambition to penetrate a crypto-friendly region known for progressive strategies. The startup believes that Dubai’s position as an innovation and investment hub will provide access to a wide pool of customers, investors, partners, and collaborators essential for scaling nealthy’s services.
CEO Ludwig Schroedl said, “We are thrilled to announce our move to new corporate headquarters in Dubai. From the standpoint of Dubai’s robust investment market to its renown as a hub for innovation, tourism, collectibles, luxury, and more, operating from Dubai will give nealthy access to the customers, investors, partners, and collaborators needed to bring nealthy’s performant solutions to as wide a user base as possible. We are excited about the next stage of our journey and cannot wait to power ahead with new releases and developments for our clients, partners, and investors.”
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