Layer1 crypto network Quai Network completes $5 million in strategic financing, with participation from Cogitent Ventures, MH Ventures and others

BlockBeats news, on August 29, TheBlock reported that Layer1 encrypted network Quai Network completed a strategic financing of US$5 million, with participation from Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures and DexCheck Ventures.

It is reported that following the previous rounds of financing, the total amount of this round of financing reached US$15 million, of which US$10 million came from Polychain Capital, Alumni Ventures and other companies. The new funds will be used to expand the size of the project's engineering and developer relations teams, support research and development, and invest in community engagement programs.