Pudgy Penguins parent company completes over $11 million in financing

Igloo, Inc., the parent company of Pudgy Penguins, has announced the completion of a financing round of over $11 million, led by Founders Fund and with participation from Distributed Capital, 1kx, Everest Ventures Group, and Selini Capital. Igloo plans to invest this strategic financing into the development of its new business, Cube Labs, which will oversee and contribute to the development of Abstract, a new consumer-focused blockchain aimed at mainstreaming encryption. Abstract is incubated by the non-profit organization Abstract Foundation, which will enable billions of people to go on-chain for the first time, and its testnet will be launched soon.