Igloo, the parent company of Pudgy Penguins, announced the completion of a $11 million financing round, with Founders Fund leading the investment.

Igloo, the parent company of Pudgy Penguins, announced the completion of an $11 million financing round, led by Founders Fund, with participation from Distributed Capital, 1kx, Everest Ventures Group, and Selini Capital. Igloo plans to allocate this strategic financing to develop its new business, Cube Labs, to oversee and promote the development of Abstract. Abstract, incubated by the non-profit organization Abstract Foundation, is a new Layer 2 blockchain built using Matter Labs' ZK Stack and EigenLayer's data availability layer, EigenDA. The mainnet is expected to launch by the end of the year. (The Block)