According to Foresight News, Igloo, the parent company of Pudgy Penguins, has announced the successful completion of a funding round exceeding $11 million. The round was led by Founders Fund, with participation from Distributed Capital, 1kx, Everest Ventures Group, and Selini Capital. Igloo plans to allocate this strategic investment towards the development of its new venture, Cube Labs. Cube Labs will oversee and contribute to the development of the consumer-focused blockchain, Abstract. This blockchain is being incubated by the non-profit organization Abstract Foundation, with its testnet expected to launch soon.