Quai Network has closed a $5 million strategic funding round with participation from Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures, and DexCheck Ventures.

The company’s total funding has reached $15 million following previous rounds, with $10 million coming from Polychain Capital, Alumni Ventures, and others.

The new funds will be used to expand the project’s engineering and developer relations teams, support R&D efforts, and invest in community engagement initiatives.

Quai will also launch its mainnet-compatible development network — which precedes the protocol’s fourth testnet and features work-sharing, UTXO transactions, and dynamic sharding. Quai will launch the first decentralized energy dollar on “the only scalable and programmable proof-of-work blockchain.” The project uses a dual token system.

Sayantan Mitra, General Partner at Cogitent Ventures, said: "Quai Network's unique layered structure transforms scalability and security without having to prioritize one over the other. Enabling seamless, trustless interactions across multiple chains and supporting fast, low-cost transactions, Quai solves the pain points of multi-chain systems and lays the foundation for high-throughput global execution."

Quai recently joined the UTXO Alliance. It has also partnered with PortalToBitcoin, Stork Network and