Shiba Inu memecoin raises $12M from institutional investors
The funds will be used to build Shiba’s novel privacy layer TREAT.
Canine memecoin project Shiba Inu (SHIB) has raised $12 million from a private token sale of its not-yet-released TREAT utility and governance token.
According to the April 22 announcement, the investors include 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. All investors participating in the private token sale were outside the United States.
The participation of venture capital firms and their partners will help the Shiba Inu project expand its network and “increase what Shiba Inu can truly be capable of for our community,” commented Shytoshi Kusama, the anonymous core developer of Shiba Inu.
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