Hassan Maishera
Shiba Inu, an interconnected ecosystem of digital assets and solutions built on the Ethereum blockchain, announced on Monday, April 22nd, that it has raised $12 million in a funding round led by several non-U.S. strategic partners.
In a press release shared with Cryptowisser, Shiba Inu said the funding round saw participation from Mechanism Capital, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Comma 3 Ventures, DWF Ventures and Spirit Dao.
These investors invested in the Shiba Inu ecosystem via the $12 million purchase of the not-yet-released $TREAT utility and governance token, Shiba Inu’s final non-stable token.
According to the Shiba Inu team, $TREAT is its final unreleased token by the popular and is set to unlock its newly announced blockchain featuring Fully Homomorphic Encryption (FHE).
This blockchain leverages the FHE technology of its partner Zama.ai. The new encryption chain aims to solve multiple problems in crypto, including privacy and trust for Shiba Inu’s large community of tens of millions.
While commenting on this funding round, Shiba Inu’s Lead Developer known as Shytoshi Kusama, said,
“Shiba Inu started from the vision of our founder Ryoshi and we’ve been so thankful to the community. Together, we have changed the face of crypto as we’ve worked towards that vision. We’ve crushed expectations by creating a full-fledged ecosystem with a core technology stack that no one else has, alongside community, games, AI, metaverse, DeFi, self-sovereign identity, and encryption. We are excited to gain the support of such powerful VCs, angel investors, and brands as we plow towards the completion of this grand decentralized experiment. Through the involvement of these venture capital firms and their strategic partners, we are expanding not only our network of trusted partners but also exponentially increasing what Shiba Inu can truly be capable of for our community, The ShibArmy.”
The Shiba Inu team will use the funds to build its new blockchain with FHE, ensure Shibarium becomes the meme center of the world, and expand security and regulatory compliance.
Shiba Inu, a world-leading ecosystem of decentralized cryptocurrencies has gained popularity among millions of holders worldwide. Its ecosystem of tokens includes $SHIB, $LEASH, and $BONE, plus native SHIBOSHIS and SHEboshi NFTs. SHIB.io utilizes the Shiba Inu Ecosystem to power quality technologies, including SHIB:The Metaverse and Shibarium, the Layer 2 blockchain.
