Participated · Equity · Aug 2024

Quai operates a Layer-1 crypto network designed to connect reliable, real-world value to the compute economy through a scalable Proof-of-Work smart contract platform. The protocol employs a two-token system and execution sharding to enable scalability and accessibility for Web3 developers and users. Quai says it will use recent funding to accelerate growth, scale its team—particularly engineering and developer relations—intensify research and development, and invest in community engagement. The company joined the UTXO Alliance alongside Cardano, Ergo, Nervos Network, and Topl Protocol to advance the UTXO model with improved security, interoperability, and scalability. Quai has also signed strategic partnerships with PortalToBitcoin, Stork Network, and IO.Net. The company is headquartered in Austin, TX and has raised a total of $15M to date.