Tomi Closes $40 Million Funding Round, $TOMI Up Over 60% in Last 24 Hours

Tomi, a decentralized autonomous organization, has closed a $40 million round of funding led by digital asset market maker DWF Labs, with participation from Ticker Capital, Piha Equities and others.

Tomi said its aim is to "kick off a clean slate for the internet," using its DAO governance model to promote freedom of speech and access to uncensored information, in contrast to the "government and corporate surveillance and censorship" of the world wide web.

One of Tomi's products, tomiNET, is a DAO-governed, surveillance-free alternative to the World Wide Web. The funding will be used to court content creators for the network.

According to TokenInsight data, the $TOMI price went up by 66.45% over the last 24 hours, trading at $2.0999 now.