EOSEthereumNews

NoahArk Tech Group Raises $2.4 Million From EOS Network Ventures

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Multi-directional investment, technology and marketing collaboration is set to unlock new potential and catalyze growth in the DeFi space on both EOS mainnet and its Ethereum-compatible element, EOS EVM.

NoahArk Tech Group completes funding round with $2.4 million raised

NoahArk Tech Group, a product of the collaboration between Defibox Technology Limited (Defibox.io) and Hong Kong Noah Technology Limited (Noahark.io), announces the conclusion of a strategic $2.4 million investment round fueled by EOS Network Ventures (ENV).

Investment by ENV into NoahArk Tech Group is not just a financial endorsement but a strategic collaboration aimed at fostering innovation within the EOS ecosystem. This partnership is expected to unlock new potential and catalyze growth in the DeFi space.

NoahArk Tech Group CEO, Eason, shares his excitement about the prospects the new collaboration unlocks for all actors in the DeFi ecosystem:

This investment from EOS Network Ventures, coupled with the reorganization of Defibox.io and Noahark.io, marks a transformative phase for the EOS DeFi ecosystem. In this new phase, the EOS EVM will significantly enhance our operational capabilities, making it easier for established products and developers to participate and enabling the fluid movement of various assets through cross-chain bridges.

NoahArk Tech Group is the result of a collaboration initiated by Defibox Technology Limited (Defibox.io) and Hong Kong Noah Technology Limited (Noahark.io). Their shared mission is to build a robust DeFi (Decentralized Finance) alliance within the EOS ecosystem, primarily focusing on decentralized exchange (DEX) activities.

As covered by U.Today previously, EOS Network Ventures recently fueled GameFi innovator EZ Swap with $500,000 investment.

NoahArk Tech Group launched to change the narrative for EOS and EOS EVM

Yves La Rose, Director of EOS Network Ventures (ENV), commented on their investment in NoahArk Tech Group and stressed its role in DeFi infrastructure growth:

Through our investment in NoahArk Tech Group, we’re not just funding a company, we’re investing in the future of DeFi on the EOS Network. We’re confident in their ability to innovate and believe this partnership will lead to significant advancements in the EOS ecosystem. This move is more than just financial support; it’s a commitment to driving growth and new developments in DeFi. We see NoahArk Tech Group as a key player in enhancing decentralized exchanges and our strategic vision is to support the creation of more interconnected and user-friendly DeFi services, benefiting the entire sector.

NoahArk Group’s long-term strategy includes leveraging the strengths of both Defibox.io, a prominent DeFi platform on EOS Native, and Noahark.io, a new-gen DeFi project on EOS EVM, to drive a broad spectrum of innovative efforts in the DeFi sector.

Following long-awaited reorganization, Defibox.io and Noahark.io will continue to operate independently in terms of product branding, yet will fully share resources β€” including funds, personnel and technology β€” under the leadership of NoahArk Tech Group.


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