Pudgy Penguins Secures $9 Million in Seed Funding on May 9, 2023

According to industry sources, Pudgy Penguins raised $9 million in a Seed funding round on May 9, 2023. Investors participating in this round include 1kx, Shima Capital, Big Brain Holdings, Kronos Research, Old Fashion Research, CoinGecko Ventures, Puzzle Ventures, Kucoin Ventures, Digital Finance Group, and Crit Ventures. With this round, Pudgy Penguins’ total funding to date has reached $9 million.Pudgy Penguins is a collection of 8,888 unique cartoon penguin NFTs, each generated from a random combination of 150 hand-drawn traits. The project focuses on developing content, toys, and digital collectibles, offering holders exclusive experiences, events, and IP licensing opportunities. The Pudgy Penguins ecosystem encompasses multiple product lines, including the Abstract public blockchain, Pudgy Toys, Pudgy World, Lil Pudgy NFT, Pudgy Rod, and Pudgy Bridge.Notably, according to the project roadmap, Pudgy Penguins successfully launched its token PENGU on December 17, 2024, with trading commencing on major exchanges. In early 2025, the project conducted a significant token burn event, destroying tokens valued at approximately $141.56 million, demonstrating the team's confidence in long-term development. Additionally, the project is actively expanding its cross-chain initiatives and has partnered with Sol Strategies to launch a validator on the Solana blockchain, further broadening the reach of its ecosystem.