Quai Network has completed a $5 million strategic round of financing, with participation from Cogitent Ventures and others.

according to The Block, the L1 network Quai Network has completed a $5 million strategic funding round, with participation from Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures, and DexCheck Ventures. After several previous funding rounds, the company's total funding has reached $15 million, of which $10 million comes from Polychain Capital, Alumni Ventures, and others.

It is reported that the new funds will be used to expand the project's engineering and developer relations team, support R&D efforts, and invest in community engagement programs.