In an announcement, the company confirmed that it would intend to use the funds to prioritize the development of infrastructure and to manage the legal and regulatory system required to deliver better goods.
RRE Ventures led the funding with the involvement of Alex Tisch, president of Loews Hotels & Co, and a team of financiers led by Littlebanc Advisors.
James Robinson, founder of RRE Projects, will join the advisory board of Arca and contribute to the product creation and distribution activities of Arca in the future.
