CoinVoice recently learned that 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.

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

Chloe Phung, co-founder and co-CEO of U2U Network, said it will be listed soon. [Original link]