Quai Network Secures $5 Million in Strategic Funding

According to BlockBeats, on August 29, Layer1 blockchain network Quai Network announced the completion of a $5 million strategic funding round. The investment was led by Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures, and DexCheck Ventures. This latest round brings the total funding to $15 million, following previous investments. The additional $10 million in funding was contributed by Polychain Capital, Alumni Ventures, and other firms. The newly acquired funds will be allocated towards expanding the project's engineering and developer relations teams, supporting research and development efforts, and investing in community engagement initiatives.