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API3 Raises 4 Million USDC In a Strategic Treasury Diversification Round Led By DWF Labs

Twitter icon  •  Published 6 months ago on May 30, 2024  •  Hassan Maishera

The AP13 team announced via a Medium post on Wednesday that it has successfully concluded a strategic funding round, allocating treasury assets in exchange for 4 million USDC.

API3 Raises 4 Million USDC In a Strategic Treasury Diversification Round Led By DWF Labs

The AP13 team announced via a Medium post on Wednesday that it has successfully concluded a strategic funding round, allocating treasury assets in exchange for 4 million USDC.

The investment round was led by DWF Labs and co-participated by three other prominent venture capital firms: Spartan Group, Laser Digital (Nomura), and Caladan (formerly AlphaLab).

The funding will provide API3 with additional liquid capital to support ongoing development, marketing efforts, and business development initiatives. Specifically, the funds are intended to be heavily utilized for the OEV Network’s mainnet launch, further integration of decentralized applications (dApps) and blockchain networks, and the continued development and promotion of API3 services.

API3 is a data oracle that enables APIs to feed data to blockchain applications directly without third-party middlemen. API3 is currently trading at $3.184, up by more than 5% in the last 24 hours.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.