Dubai Web3 startup nealthy raises $1.3M pre-seed funding
The funds will be used to grow the core team, hire talent, and augment sales and development.
UAE-based , a virtual asset management platform, has raised pre-seed funding worth $1.3 million.
nealthy is a Web3 startup for investing in non-fungible tokens (NFTs) and cryptocurrency.
The investors for the round were undisclosed.
The capital will be used to grow the core team, hire talent, and augment sales and development, the company said a statement on Wamda.
Incorporated in Dubai, nealthy was founded in 2022 by Ludwig Schrödl (CEO), Zied Said (CTO), and Tim Pascual (CMO). They co-founded the company after recognising a gap in the market for diversified index tokens.
The startup offers index tokens that facilitate investors to enter Web3 markets in a quick and easy manner. These index-tokens replicate the structure of classic exchange-traded funds (ETFs) through blockchain technology to operate all transactions.
nealthy is looking to incorporate the Metaverse Zone of Anguilla to release the tokens in a regulated environment.
To counteract risks associated with the blockchain space, the team at nealthy ensures security by storing all assets in cold wallets and smart contracts. Each of these wallets are made public and maintain transparent holding information, says co-founder Zied Said.
The startup plans to release the NFTs in summer this year.
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Edited by Swetha Kannan