UAE Funds including names such as, WoodStock Fund and Cypher Capital are among the investors in Shiba Inu’s $12 million raise.
Shiba Inu, an interconnected ecosystem of digital assets and solutions built on the Ethereum blockchain that includes popular global cryptocurrency $SHIB, announced a raise of $12 million from a number of non-U.S. strategic partners in venture capital, including Comma 3 Ventures, 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, Mechanism Capital, DWF Ventures and Spirit Dao. T
his group of investors has invested in the Shiba Inu Ecosystem through a $12 million purchase of the not-yet-released $TREAT utility and governance token, Shiba Inu’s final non-stable token.
$TREAT is the final unreleased token by the popular meme brand that will unlock Shiba Inu’s newly announced blockchain featuring Fully Homomorphic Encryption (FHE). The new chain utilizes the FHE technology of their partner Zama.ai. This new encryption chain aims to solve multiple problems in crypto, including privacy and trust for Shiba Inu’s large community of tens of millions, and the next billion, crypto-curious individuals.
“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,” said Shiba Inu’s Lead Developer known as Shytoshi Kusama. “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 funding, through The Shiba Inu Mint S.A. (a Panama corporation), will be used by Shiba Inu to build its new blockchain with FHE, ensure Shibarium becomes the meme center of the world, and expand security and regulatory compliance. Shiba Inu continues to enhance its stack while increasing the usability and portability of its technology in more places than ever, including partnerships like D3 to gain a .shib top-level domain, philanthropic partnerships with organizations like the Manny Pacquiao Foundation, and memberships within organizations like CDSA (Content Delivery & Security Association), the international association of security executives across Media & Entertainment.
