Moflix Group, a pioneer in next-generation digital telecom solutions, today announced that it has raised a $3.1 million seed funding round, led by The Hashgraph Association (THA) - a Swiss non-profit organization leading the global adoption of the Hedera network. The seed funding will facilitate Moflix in its mission to lead the convergence of mobile services and Web3 to drive widespread adoption.
Hedera is an open source, proof-of-stake network that powers the next generation of the web. Hedera has been specifically designed to meet the needs of enterprise and Web3 applications, which require enterprise-grade performance, security, stability, and transparent governance, all on a low-carbon footprint public network with low predictable fees.
Moflix’s Web3 push is paving the way for the next generation of digital services with features for telcos that include management of Web3 assets through a digital wallet and trusted digital identity credentials. THA’s financial commitment and engineering expertise will enable Moflix to explore ways of incorporating Hedera’s technology into its offering, empowering telcos to offer infrastructure, platforms, applications, and user experiences for a Web3-enabled world.
Kamal Youssefi, President, The Hashgraph Association
Providing this funding to Moflix Group will catalyze new and innovative ways to accelerate the advancement of Web3 services. Moflix’s position as tech enablers for the telco industry places it at a unique and powerful position where it can have significant influence on the speed of the Web3 rollout we envision within the coming five to 10 years. We’re confident that by supporting Moflix, we’ll help it accomplish its overarching mission and build the pathway from Web2 to Web3.
Marc Degen, Co-Founder and Executive Chairman, Moflix
We are thrilled to have a strategic partner who shares our vision of the indispensable role that telecommunications will play in achieving mass adoption of Web3 technology. The commitment of The Hashgraph Association, together with the support of our existing and new shareholders, allows us to accelerate our mission and continue to build upon the success of our Moflix TelcoTech Platform. At Moflix, we aim to build the most compelling all-digital solution to build the bridge from Web2 to Web3. This is not just a journey towards innovation; it is a commitment to shaping the future of telecommunications.
