November 28, 2024
U2U Network, known for its modular layer-1 blockchain, has announced the successful completion of its latest funding round, securing $13.8 million. This funding will strengthen U2U Network’s efforts to advance decentralized physical infrastructure (DePIN) solutions, boosting its ability to support blockchain-based applications. The company's Subnet technology is central to this strategy, offering the scalability and adaptability needed to accommodate the needs of developing Web3 projects.
The funding round attracted a range of investors, including venture firms such as KuCoin Ventures, Chain Capital, and JDI Ventures. KuCoin Ventures, the investment division of the global crypto platform KuCoin, is expected to play a significant role in broadening U2U Network's reach beyond Asia. Chain Capital has a portfolio that spans over 300 projects, contributing to the strong financial support for U2U. JDI Ventures, renowned for its investment in blockchain hardware and DePIN projects, has also committed to U2U, highlighting its alignment with the project's strategic direction.
JDI Ventures, founded by blockchain hardware specialist JDI Global, manages a portfolio valued at $200 million and has previously supported projects such as Helium and MetaBlox. The fund's support for U2U Network signals confidence in the platform's potential to integrate physical devices with decentralized networks and promote hardware-centric blockchain applications.
About U2U Network
U2U Network is a modular layer-1 blockchain that incorporates directed acyclic graph (DAG) technology and is compatible with the Ethereum Virtual Machine (EVM). This allows developers to create scalable sub-networks for decentralized applications, positioning it as a suitable platform for DePIN projects. U2U’s infrastructure aims to address blockchain scalability challenges and facilitate future innovations.
Website: https://u2u.xyz/
X: @uniultra_xyz
About Investor
JDI Ventures
JDI Ventures invests in blockchain hardware, supporting DePIN and infrastructure projects. With a $200 million portfolio, it has backed initiatives such as Helium and MetaBlox, aiming to connect physical devices with decentralized networks and advance hardware-focused blockchain solutions.
Location: Tallahassee, Florida
Website: https://jdiglobal.xyz/ A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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