WOO Network Raises $30 Million in Series A Funding Amid Growing Crypto Culture

The crypto field is rapidly increasing, and more crypto exchange platforms are attempting to establish themselves early in the market. WOO Network, a crypto exchange platform, has raised $30 million (approximately Rs. 223 crores) in a Series A fundraising round from several investors, including Three Arrows Capital, a large Singapore-based investment firm. Fourteen additional venture capital companies also attended the round. WOO, a cryptocurrency company, claims to provide customers with deep liquidity and zero-fee trading on their crypto exchange.

According to CoinDesk, the company’s daily trading value increased by $20 million (approximately Rs. 148 crores) in early 2020, reaching an all-time high of $2.6 billion (about Rs. 19,330 crores) in mid-September.

WOO Network announced on Twitter that their latest investment round had been successfully closed.

According to the crypto exchange, the cash will be used to create a research and development facility in Warsaw, Poland.

Candy Digital, a non-fungible token (NFT) firm located in the United States, raised $100 million (approximately Rs. 747 crores) in a Series A fundraising round in October. NFTs are digital treasures based on real-world artifacts such as games, artwork, and music, among others.

Mojito, a digital platform that enables the construction of NFT markets, has raised $20 million (approximately Rs. 150 crores) in a new fundraising round.
On a global scale, the cryptocurrency market is rapidly expanding. According to market research tracker CoinGecko, the aggregate value of the crypto market topped $3 trillion (approximately Rs. 2,22,79,296 crore) earlier this week.

According to Cryptimi, there are presently an estimated 504 cryptocurrency exchanges, of which 259 are listed on CoinMarketCap, with others bringing early starts.

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