TLDR:
Key Points:
- Shiba Inu raised $12M in venture capital funding
- Backers included Comma 3 Ventures, Big Brain Holdings, Cypher Capital, and others
In a recent development, Shiba Inu, a provider of an interconnected ecosystem of digital assets and solutions built on the Ethereum blockchain, raised $12M in a venture capital funding round. The funding was led by a group of investors including Comma 3 Ventures, Big Brain Holdings, Cypher Capital, and others. The company plans to use the funds to build its new blockchain with Fully Homomorphic Encryption (FHE) and expand security and regulatory compliance.
Shiba Inu’s ecosystem includes popular tokens like $SHIB, $LEASH, and $BONE, along with native NFTs. The introduction of the $TREAT token, which unlocks the new blockchain featuring FHE technology, aims to address privacy and trust issues in the crypto space for the company’s large community and beyond. This move is seen as a step towards innovation and scalability in the decentralized world.
Overall, the funding round signifies a significant milestone for Shiba Inu as it looks to enhance its ecosystem and provide solutions for the growing number of crypto enthusiasts worldwide.
