ChainCatcher news, according to The Block, Ethereum Layer 2 network TEN (The Encrypted Network) developer Obscuro Labs announced the completion of a $9 million funding round, led by R3, with participation from Republic Crypto, KuCoin Labs, Big Brain Holdings, Magnus Capital, and DWF Labs.Gavin Thomas, co-founder of Obscuro Labs, stated that the $9 million funding is divided into three phases, completed over the past two years, with the latest tranche of about $3 million concluding in December last year. Thomas mentioned that all phases utilized a Simple Agreement for Future Equity (SAFE) structure, accompanied by token warrants. He added that the SAFE is optional, as "some investors are only interested in signing token warrants." Thomas pointed out that the latest funding round raised Obscuro's fully diluted token valuation to $30 million.

ChainCatcher news, Ethereum Layer 2 Rollup project Ten (formerly Obscuro) has completed a $7.5 million financing round, with participation from Republic Capital, KuCoin Labs, R3, Big Brain Holdings, Magnus Capital, Builder Capital, DWF Labs, Pragma Ventures, GTS Ventures, and others.According to the crypto asset data platform RootData, Obscuro is a Layer 2 solution for Ethereum that offers privacy and scalability. Obscuro is incubated by the well-known enterprise blockchain company R3.