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The Web3 infrastructure company completed a $4.1 million funding round, bringing the total raised to $6 million.
The seed round was led by prominent venture capital firms Blockchain Capital and Breyer Capital.
The investment came from JDI Ventures the investment and incubation arm of blockchain hardware manufacturer JDI Global.
The integration of FHE technology enables SHIB ecosystem users to safeguard their personal and transactional data against the increasing threats of data breaches.
Placeholder VC led the round with participation from Jump Crypto, Delphi Digital, Wintermute, Hashed, Robot Ventures, Selini Capital, and Amber Group.
Ether.fi had earlier raised $4 million via a simple agreement for future equity (SAFE) closed late last year, bringing the total raised across the two rounds to $27 million.
The Binance-backed modular blockchain infrastructure layer will use the funds to build a network of interwoven rollups.
The round was led by Founders Fund and Dragonfly, with participation from SevenX, Figment, and Nomad Capital.
This fundraising allows Flare to reduce the liquidity of the $FLR token while also increasing ecosystem investment.
The Ethereum-based platform said it will use some of the fresh capital to hire marketing staff.