Stake Technologies Inc., an infrastructure provider for decentralized applications and Web 3.0 protocols, has raised $x meg in strategic investments to help build out the Polkadot and Kusama ecosystems through its wholly owned Plasm and Shiden networks.

The funds will be immediately deployed to aid Pale Technologies consummate a successful parachain lease offer, or PLO, both on Kusama and Polkadot, the company announced Friday. The Kusama PLO will be conducted through the Shiden Network parachain, while Plasm Network will exist dedicated to Polkadot.

Stake Technologies has adopted a "crowdloan-centric strategy" for securing the Shiden parachain lease, which refers to i of two primary approaches for securing a parachain slot, the other being direct sales.

The investment round was led by venture uppercase business firm Fenbushi Upper-case letter, with participation from Hypersphere Ventures, Gumi Cryptos, IOSG Ventures, TRG Capital, AU21 Capital and others. Nobuyuki Idei, former CEO and chairman of Sony, as well participated equally an affections investor.

Related: Polkadot creator Gavin Woods proposes June xv for first Kusama parachain sale

"The Plasm Network, and its cousin Shiden, aim to be the multi-chain DApp hubs of Polkadot and Kusama," Stake Technologies said. "The two networks will become the gateway for cross-concatenation avails from other networks, layer-two platforms and parachains."

"The multi-blockchain approach ways that Plasm and Shiden will be fundamental contributions to the overall parachain ecosystem, with their piece of work on scaling benefiting every other futurity parachain," said Jack Platts, partner at Hypersphere Ventures, which contributed to the funding round.

The highly predictable Kusama parachain sale could have its first winner subsequently this month should the Kusama Council approve a tentative schedule published earlier this week past creator Gavin Forest. Equally Cointelegraph reported, Kusama has been ready to host parachains since May, with developers confident that all technical hurdles take been cleared.