- LAKE (LAK3) secures $12.4 million in funding, including $3 million from a Private Sale and $9.4 million in the ongoing second round, to expand operations globally and launch the LAK3 token.
- Key partnerships with Wolverhampton Wanderers FC and premium water sources like Sembrancher (Switzerland) and Zilia (Corsica) allow LAKE to integrate real-world water sources into the Web3 space.
- Through its blockchain-based ecosystem, LAKE is on track to redefine how people engage with the water economy.
Geneva, Switzerland, November 11, 2024 - LAKE (LAK3), a blockchain-based company focused on reshaping the global water economy, has secured $12.4 million in funding from various investors including Artaize Invest, EMB Venture Capital, Michel Audeban - Business Angel and members of MSM family office. The increasing interest in RWAs and LAKE's mission to transform the water economy has been mirrored in the response from investors throughout the year.
Early this year, LAKE's Private Sale raised $3 million from a diverse group of investors, including business angels, serial entrepreneurs, industrialists, luxury sector experts, and family offices. This successful funding round has allowed LAKE to expand its workforce, open a new operations hub in Dubai, and establish partnerships with notable entities, including Wolverhampton Wanderers FC and premium water sources like Sembrancher in Switzerland and Zilia in Corsica.
“We are grateful for the support and trust we received from our investors during the private sale round,” said Jean-Hugues Gavarini, CEO of LAKE. “This funding has laid the foundation for our global expansion, allowing us to grow our team and secure strategic partnerships. We’re confident these steps bring us closer to our vision of making the water economy accessible to everyone.”
Since late August, LAKE’s second funding round has raised $9.4 million, surpassing its $6.5 million soft cap and moving toward its $12 million hard cap. Despite reaching the initial target, LAKE has kept the round open to attract additional institutional investors aligned with its mission. The funds will support the scaling of global operations, launch the LAK3 token, expand the supply chain network, and drive the company’s international growth.
"We’re proud to support LAKE in its mission to revolutionize the water economy and establish new standards for the future of this long-standing industry," said Kris Badinga-Sousatte, Managing Partner at EMB Venture Capital.
"LAKE’s approach empowers stakeholders, turning passive consumers into active participants and creating remarkable new opportunities that were previously unimaginable," said Michel Audeban, Business Angel.
Recently, LAKE has been selected as one of the Top 10 Laureates for the Web3 Oscar, an esteemed event organized by the Blockchain for Good Alliance. This award honors pioneering blockchain projects that create tangible real-world impacts in line with the United Nations' 17 Sustainable Development Goals. The ceremony will be held in Bangkok on November 11th, 2024.
About LAKE
LAKE is a RWA project leveraging blockchain technology to disrupt the current water economy. It is an innovative Web3 ecosystem facilitating fair and decentralized access to water worldwide. This is the first project to bring a clear, transparent, and decentralized ecosystem that will change the way we interact with water, from purchasing, selling, securing, donating and even becoming shareholders in water sources. With a mission to connect billions to water sources through Web3, LAKE sparks transformative change in how we perceive and manage this increasingly scarce vital resource.
Users can learn more about LAKE (LAK3) at https://LAK3.io.