Igloo, Parent Company of Pudgy Penguins, Secures $11 Million Funding

IconCryptoNewsTerminal Staff23 Jul, 2024

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Igloo, Parent Company of Pudgy Penguins, Secures $11 Million Funding

Igloo, the parent company of the popular non-fungible token (NFT) project Pudgy Penguins, has raised $11 million in a strategic funding round. The round was led by Founders Fund and included participation from leading investors like Fenbushi Capital, 1kx, and Everest Ventures Group. The fresh capital will fuel Igloo's plans to expand its CUBE Labs division, which focuses on developing new and innovative NFT-related initiatives. The company aims to leverage this funding to drive the growth and adoption of NFTs in the broader market. Igloo's success stems from its popular NFT collection, Pudgy Penguins, which has gained immense popularity among NFT enthusiasts. This strategic funding round positions Igloo to further expand its presence and contribute to the growing NFT ecosystem.

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