Altcoin Raises Money from Four Investors, Price Rises Rapidly

Altcoin project API3 has held a strategic funding round with participation from DWF Labs and several other investors.

According to the statement made by API3, DWF Labs, Spartan Group, Laser Digital and Caladan invested in the project.

API3 provided 1 million 423 thousand 500 API3 tokens from its own treasury to investors in exchange for a total of 4 million USDC. The per unit price of the tokens was 2.81 USDC.

Tokens worth 2 million USDC were given to DWF Labs, 1 million to Spartan Group, and 500 thousand USDC each to Laser Digital and Caladan.

50% of the tokens given to investors will be unlocked in the first six months, and the rest will be unlocked in the following six months.

“The strategic funding round will give API3 the liquid capital needed to support its current development, marketing and business development efforts,” the statement said.

API3 price rose rapidly after the investment news.