Modular L1 network U2U Network completes $13.8 million financing, with participation from JDI Ventures and others

ChainCatcher news, the modular L1 network U2U Network has completed a $13.8 million financing round, with participation from KuCoin Ventures, Chain Capital, IDG Blockchain, Cointelegraph, V3V, JDI Ventures, Tesseract, IBG, Blockhive, Maxx Capital, and UB Ventures. The funds raised will support the ongoing development of U2U Network's Subnet technology.

U2U Network is a Layer-1 blockchain that utilizes DAG technology and is EVM compatible. The innovative subnet technology of U2U Network enables developers to create scalable and flexible subnets, making it an ideal platform for efficient DePIN development. U2U Network is composed of 100 early contributors who are former employees of Ethereum, Google, and Infina.

Chloe Phung, co-founder and co-CEO of U2U Network, stated that it is set to go public soon.