PANews reported on November 14 that according to Cointelegraph, the water resources RWA project LAKE announced that it has completed $12.4 million in financing, including $3 million in private placement financing and $9.4 million in the ongoing second round of financing. Investors include Artaize Invest, EMB Venture Capital, Michel Audeban-Business Angel and MSM Family Office. The new funds are intended to promote its construction of an innovative Web3 ecosystem, promote fair and decentralized access to water resources worldwide, and explore the launch of LAK3 tokens. Since the end of August, LAKE's second round of financing has raised $9.4 million, exceeding the soft cap of $6.5 million and moving towards the hard cap of $12 million.

According to reports, LAKE is a RWA project that uses blockchain technology to promote fair and decentralized access to water resources around the world. It plans to change the way users interact with water, from buying, selling, acquiring, donating, and even becoming shareholders of water resources.