Shiba Inu Raises 12 Million in a Strategic Venture Capital Round for its new FHE blockchain via $TREAT
Summary
Shiba Inu announced that it raised $12 million from a group of strategic venture capital partners through a purchase of its unreleased $TREAT token. The company said the capital will support development of its new blockchain built with Fully Homomorphic Encryption technology from Zama.ai. It also plans to use the funds to expand security, regulatory compliance, and the Shibarium ecosystem. The announcement positions Shiba Inu as a broader software and blockchain platform rather than only a meme token project.
Funding
Amount
$12.0M
Total raised
Date
April 22, 2024
Announcement date
Investors
Woodstock Fund, Mechanism Capital, Primal Capital
Lead investors
Company
shib.io
Funded company
Classifications
industries
No industries detected
applications
Security
AskAI Classifications
Labels
Blockchain Software
DeFi Platforms
Web3 Infrastructure
Linked Companies
Shib
$5M to $10M