Modveon raises $10M for ‘identity-first’ OS to support verified transactions

Modveon, which offers a verified operating system for governments and private citizens, has raised 10 million dollars in seed funding. A release says the round is backed by Coinbase Ventures, Firebolt Ventures, Humla Ventures, Strategic Cyber Ventures and a selection of other investors and angels.

Modveon’s pitch is “an identity-first operating system that enables verified, closed-loop digital interactions at societal scale.” It is looking to help usher in digital transformation at scale by bringing trust up to speed with its software. Its scant website declares it “the future of modern nation states.”

In charge of the project is CEO Nana Murugesan, who has previously held roles at Coinbase, Matter Labs (ZKsync network), Snapchat and Samsung.

“The internet has scaled faster than trust,” Murugesan says. “Societies increasingly operate online without shared verification, and the cracks are showing. Modveon is building the infrastructure that makes real-world digital interactions work reliably at scale.”

Per the release, Modveon’s product vision centers on verified digital identity as the foundation for trusted digital interactions. This includes “regulated digital payments and money movement.” Initial government deployments are underway, with commercial agreements in place. A broader  launch is planned for later this year.

Article Topics

digital identity  |  digital payments  |  digital trust  |  funding  |  Modveon