Layer-1 Modular Blockchain U2U Network Completes $13.8M Fundraising Round with Participation from KuCoin Ventures

BlockBeats News, November 29th, Modular Layer-1 blockchain U2U Network announced the completion of a $13.8 million financing round. Investors in this round include KuCoin Ventures, Chain Capital, IDG Blockchain, Cointelegraph, JDI Ventures, and other well-known institutions. JDI Ventures also made an equity investment to support U2U Network's hardware technology research and development.

U2U Network Co-founder and Co-CEO Chloe Phung stated that the team is currently focused on driving blockchain mass adoption through the DePIN solution. The project currently has a team of 100 members, with core members from early Ethereum contributors Top 100, Google, and Infina, among other institutions. This financing will be used to advance U2U Network's subnet technology development, which emphasizes infinite scalability and DoD (Decentralization on Demand). The project is scheduled to launch soon.