Blockchain incubator valued at $100M following NGC Ventures-led Series

Blockchain-focused incubator and advisor PANONY has closed a Series A funding round backed by NGC Ventures, one of Asia's largest crypto investment firms, putting the company on track to expand its portfolio and geographic presence.

Although terms of the funding were not disclosed, the Series A valued Pannoni at $100 million, the company said Monday. Hong Kong-based Panoni said it will use the funds to expand into other jurisdictions, launch new service offerings and expand its networking capabilities.