In a recent podcast on July 17, CEO Luca Netz stated: "Our plan is to raise funds to take Abstract Chain to the next level." This comes as the consumer-focused chain reaches $200 million in total value locked (TVL).
Although CEO Luca did not reveal a specific timeline for the funding round, estimates suggest it is likely to close before the end of the year.
If successful, this funding round would be the second of its kind after securing a strategic funding of $11 million for Abstract Chain in July 2024. Investors for its testnet-focused round included Peter Thiel's Founders Fund, 1kx, among others.
In seeking to raise funds again, Luca reasoned that "because I believe we have enough in the building process and enough on the platform, I think it's time to go out and activate the marketing machine."