TechFlow News, November 29 — According to an official press release, modular Layer-1 public blockchain U2U Network has announced the completion of a $13.8 million funding round. Investors in this round include prominent institutions such as KuCoin Ventures, Chain Capital, IDG Blockchain, Cointelegraph, and JDI Ventures. Notably, JDI Ventures also made an equity investment to support U2U Network’s research and development in hardware technology.
Chloe Phung, Co-Founder and Co-CEO of U2U Network, stated that the team is focused on driving large-scale blockchain adoption through DePIN solutions. The project currently has a 100-member team, with core members hailing from top institutions including early contributors within the top 100 of Ethereum, Google, and Infina. The funds will be used to advance the development of U2U Network's subnet technology, which emphasizes infinite scalability and DoD (Decentralization on Demand). The project is scheduled to launch soon.
