Place/Date: Singapore - November 17th, 2021 at 9:18 pm UTC · 2 min read
Contact: Diksha Sharma, Head of PR And Comms, Source: Gate.io
Leading global cryptocurrency exchange, Gate.io, has announced a $5 million investment in WOO Network during its $30 million Series A funding round. Gate Ventures invested alongside investors such as Three Arrows Capital, PSP Soteria Ventures and other renowned investors in the space.
Marie Tatibouet, Chief Marketing Officer at Gate.io, said:
“As the global cryptocurrency market continues to hit new highs during the current bull run, Gate.io has continued to invest in new and promising companies in the blockchain space through its dedicated investment arm, Gate Ventures. We believe there is still a lot of opportunity for growth in the CeFi and DeFi markets and so this investment in WOO Networks reaffirms our commitment to investing in the space.”
WOO Networks has emerged as an increasingly popular player in the market with its focus on building layers of liquidity for exchanges and brokerages across the world. WOO Networks offer clients deep liquidity and zero-fee trading, unique features that will lead to its overall growth in the market.
Relaunched in September, Gate Ventures was formed with the aim to invest and partner with promising companies in the blockchain industry. Acting as the investment arm of the wider Gate.io ecosystem, Gate Ventures will continue to invest in the market focusing on platforms in the DeFi space, which has become a leading sector in the wider industry.
Although Gate Ventures is considered relatively new to the wider investment space, it invested over $10 million within its first month in operation. Gate Ventures doesn’t just act as an investor, but an incubator of talent, providing companies with grants and strategic support to make its market in the wider cryptocurrency market. Gate Ventures also recently invested in and partnered with Pyth Network. Besides financial support, companies gain access to the wider Gate.io ecosystem including the main Gate.io exchange.
Gate.io allows blockchain enthusiasts to trade and store assets in over 1,100 of the leading cryptocurrencies for over 8 million users from over 190 countries. The exchange offers spot, margin, futures and contract trading in addition to DeFi products through Hipo DeFi, custodial services through Wallet.io, investments through Gate Labs and its dedicated GateChain platform. The company also offers a wholly integrated suite of products such as its Startup IEO platform, NFT Magic Box marketplace, crypto loans and more.