ChainCatcher news, Igloo, the parent company of Pudgy Penguins, announced the completion of a $11 million financing round, led by Founders Fund. Other participants include Distributed Global, 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 participate as a contributor in the development of a new consumer-focused blockchain, Abstract. Abstract is incubated by the non-profit organization Abstract Foundation, and its testnet will be launched soon.It is reported that Igloo, Inc. is a group that encompasses multiple companies, established in 2024, headquartered in Miami, Florida, USA. The various crypto-native products and platforms offered under Igloo, Inc. include Pudgy Penguins, Pudgy World, OverpassIP, and more.Abstract is a consumer-centric blockchain built on leading ZK cryptography knowledge, pioneering the creation of on-chain culture, community, and creativity. Abstract's mission is to establish the world's largest on-chain community, driven by the cultural economy, and to provide low-cost, fast, and secure transactions using the ZK technology stack and EigenDA services.