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IoTeX's MachineFi Lab Raises $10 Million

Twitter icon  •  Published 4 years ago on June 8, 2022  •  Hassan Maishera

The IoTeX team announced via Twitter on Wednesday that it's MachineFi Lab has raised $10 million to reach a $100 million valuation.

IoTeX's MachineFi Lab Raises $10 Million

The IoTeX team announced via Twitter on Wednesday that it's MachineFi Lab has raised $10 million to reach a $100 million valuation. The funding round was led by Samsung Next, Jump Crypto and early-stage venture capital firm DraperDragon. 

IoTeX's mission is to be a privacy-centric blockchain managing the entire information lifecycle of an Internet of Things (IoT) network, including data collection, transport, storage, and utilization. IOTX is up by more than 6% so far today and is currently trading at $0.03491.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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