Ethernet L2 Morph Announces Closing of $20 Million Seed Round

Morph, an Ethernet Layer 2 virtual machine, announced a $19 million seed round led by DragonFly Capital. The company plans to use the new funds for hiring, marketing to increase its management in the L2 ecosystem and its refinement of its technical infrastructure. Other investors include Pantera, The Spartan Group and MEXC, which raised an additional $1 million in an angel round. Bitget was an original investor in Morph and plans to continue to play a role in the Morph ecosystem.