Odaily News The Shiba Inu team raised $12 million by selling its unissued tokens TREAT to develop its new privacy-focused Layer 3 chain. Investors include Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital, and Comma 3 Ventures. Shiba Inu chief developer Shytoshi Kusama said the round of financing started a few months ago and ended earlier this month, but he declined to disclose the specific valuation. Sources revealed that this was a round of financing in batches, with each batch valued at $75 million, $100 million, and $200 million respectively. Shytoshi Kusama confirmed that the token sale round of financing included the Pre-Seed round and the seed round. (The Block)