• 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 its 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 poised to redefine how people engage in the water economy.

Geneva, Switzerland, November 11, 2024 – LAKE (LAK3), a blockchain-based company focused on reshaping the global water economy, secured $12.4 million in funding from various investors including Artaize Invest, EMB Venture CapitalMichel Audeban – Business Angel and members of MSM family office. Growing interest in RWAs and LAKE’s mission to transform the water economy was reflected in investor response throughout the year.

Earlier this year, LAKE’s private sale raised $3 million from a diverse group of investors, including business angels, serial entrepreneurs, industrialists, luxury industry experts and family offices . This successful funding round allowed LAKE to expand its workforce, open a new operations center in Dubai, and establish partnerships with notable entities including Wolverhampton Wanderers FC and superior 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 enter into strategic partnerships. We are convinced that these steps bring us closer to our vision of making water saving accessible to everyone.

Since late August, LAKE’s second funding round has raised $9.4 million, surpassing its soft cap of $6.5 million and closing in on its hard cap of $12 million. Although it achieved the initial goal, LAKE kept the round open to attract additional institutional investors aligned with its mission. The funds will support the expansion of global operations, launch the LAK3 token, expand the supply chain network, and drive the company’s international growth.

“We are proud to support LAKE in its mission to revolutionize the water economy and set 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, transforming passive consumers into active participants and creating remarkable new opportunities that were previously unimaginable,” said Michel Audeban, Business Angel.

Recently, LAKE was selected among the top 10 winners of the Web3 Oscar, a prestigious event organized by the Blockchain for a good alliance. This award recognizes pioneering blockchain projects that create tangible real-world impacts, in line with the United Nations’ 17 Sustainable Development Goals. The ceremony will take place in Bangkok on November 11, 2024.

About LAC

LAKE is an RWA project leveraging blockchain technology to disrupt today’s water economy. It is an innovative Web3 ecosystem facilitating equitable and decentralized access to water worldwide. This is the first project to create a clear, transparent and decentralized ecosystem that will change the way we interact with water, from buying, selling, securing, donating and even becoming shareholders in water sources. With a mission to connect billions of people to water sources via Web3, LAKE is driving transformative change in how we view and manage this increasingly scarce, vital resource.

Users can learn more about LAKE (LAK3) at https://LAK3.io.