According to ChainCatcher, L1 network Quai Network has completed a $5 million strategic round of financing, with participation from Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures and DexCheck Ventures. After previous rounds of financing, the company's total financing has reached $15 million, of which $10 million came from Polychain Capital, Alumni Ventures and other companies.

It is reported that the new funds will be used to expand the project's engineering and developer relations teams, support research and development, and invest in community engagement programs.