As the cryptocurrency and blockchain industry continues growing bigger, more and more firms are aiming to invest in the industry. This is the reason why news of so many funding rounds is making it to the top of the headlines in the crypto-verse.
The crypto-verse is growing so vast and lucrative that no one wants to lose the opportunity of investing in the industry. Almost every venture capital firm is aiming to invest in cryptocurrency projects and benefit from them to the fullest.
One of the latest firms to report the conclusion of a successful funding round is Multiverse. For those currently not aware of the project, it is an artificial intelligence (AI) ecosystem that is based on a decentralized network.
Multiverse is mainly known for its contributions towards the funding of tech companies that are in their early stages. This time, Multiverse has secured investment for itself through a successful funding round. Details reveal that the particular funding round was backed by some of the major venture funds both inside and outside of the crypto-verse.
These funds are now considered some of the major when it comes to investing in blockchain projects. According to reports, Multiverse has successfully managed to generate and secure %15 million worth of funds through the investment round.
One of the major investment firms that contributed towards the investment round was Samsung Next. It is one of the major investment groups that is focused on the development of fintech and blockchain technologies. The firm is among some of the major investment groups that are also focused on Artificial Intelligence (AI) technology.
Some other major investors that backed the particular funding round included Fenbushi, Huobi Ventures, and Arrington XRP Capital. The announcement sharing the names of the investors was made by Multiverse on Wednesday, July 27, 2021.
With the conclusion of the successful funding round, the market capitalization of the firm has been raised tremendously. Following the funding round, the market valuation of the company is now $250 million. At present, Multiverse has become one of the largest and major developer funds for the ecosystem. The firm is responsible for providing its services and shares expertise for the intersection of artificial intelligence and blockchain technology.
With the funds collected through the investment, the firm would be able to expand in a number of fields. These fields include marketing, researching, and the engineering sector in particular.
The development team at Multiverse firm has also shared exactly what they are aiming to achieve in near future. The firm has revealed that it is aiming to expand its services and products throughout Southeast Asia and Europe.