More and more companies continue to provide financing in investment rounds. This time, the name that received investment from the financing round Web3became Sortium, a developer of entertainment technology.
Web3 Developer Sortium Receives $7.75M Investment
Sortium, a developer of Web3 entertainment technology, has announced that it has raised $7.75 million in a kickoff round with crypto hedge fund Arca among investors. Web3 infrastructure improvements are seen as the key to bringing more people and brands in the crypto industry.
Details of said funding, including Arca’s involvement, were confirmed in an interview with Sortium CEO Marc Seal. Seal did not specify who the other investors were, but said the group includes other crypto domestic companies. Sortium CEO Marc Seal made the following statement on the subject:
“We started raising $14 million and had initially received offers to complete the tour very soon after it was announced,” he said. We decided not to go that route and focus more on strategic partners and see what the landscape turns out to be.