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W3.io Secures $7 Million Seed Funding to Develop Prodigy Network

W3.io successfully raises $7 million to enhance enterprise blockchain adoption through its Prodigy Network, supported by notable investors.

Summary

W3.io has completed a $7 million seed funding round led by Blockchange Ventures, with participation from Framework Ventures and Arrington Capital. The funding will support the Prodigy Network, aimed at simplifying blockchain adoption for enterprises through plug-and-play solutions for micropayments and mortgage applications.

Terms & Concepts
  • Programmable Smart Automation Network: A network that enables automated processes through programmable smart contracts, facilitating efficient and scalable blockchain solutions.
  • Micropayments: Small financial transactions that are typically too minor to be processed by traditional payment systems.
  • Seed Funding: The initial capital raised by a startup to support its early development and growth.