PANews reported on November 29 that according to Cointelegraph, the modular L1 network U2U Network has completed a financing of US$13.8 million, with participation from KuCoin Ventures, Chain Capital, IDG Blockchain, Cointelegraph, V3V, JDI Ventures, Tesseract, IBG, Blockhive, Maxx Capital, UB Ventures, etc. The funds raised will support the continued development of U2U Network Subnet technology.
According to reports, U2U Network is a Layer 1 blockchain that uses DAG technology and is compatible with EVM. U2U Network's innovative subnet technology enables developers to create scalable and flexible subnets, making it an ideal platform for efficient DePIN development. U2U Network is composed of former employees of 100 early contributors from Ethereum, Google, and Infina.
