March 27, 2024
Peaq, a Layer 1 blockchain project focused on decentralized physical infrastructure networks (DePINs), has secured $15 million in a pre-launch Series A funding round. The round was co-led by Generative Ventures and Borderless Capital, with additional participation from Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, TRGC, DWF Labs, Crit Ventures, Cogitent Ventures, NGC Ventures, Agnostic Fund, and Altana Wealth.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Category |
|---|---|---|---|---|---|
Peaq | Mar 27 2024 | $15M | Series A | $41M | DePin |
The funds will be used to expand Peaq’s ecosystem, which currently includes over 20 DePINs. These projects focus on areas such as multi-chain machine IDs, AI agents, and data verification systems. The funding will also support the development of Peaq’s Modular DePIN functions and software development kit (SDK), which aim to facilitate the efficient building and deployment of applications on the Peaq platform.
DePIN protocols are an emerging sector within the crypto industry. These protocols use token incentives to help establish and maintain hardware networks that provide services like computing power and data storage. Examples of Peaq-based projects include Silencio, an application for measuring noise pollution with smartphones; ELOOP, a fleet of tokenized car-sharing Teslas; and Wingbits, a network of community-operated antennas that collect plane location data.
About Peaq
Peaq is a Layer 1 blockchain project focused on decentralized physical infrastructure networks (DePINs). The platform integrates web3 with real-world infrastructure, providing an environment for community-based productivity and value generation. Peaq's Modular DePIN functions and SDK support the development and deployment of diverse applications, enhancing the efficiency and security of decentralized networks.
Website: https://peaq.io/
X Account: https://x.com/peaqnetwork
X Followers today: 139,417
X Followers 30 days ago: 87,979
X Follower change: 51,438 (+58.47%)
About Investor
Investor: Borderless Capital
Description: Borderless Capital is a venture capital firm that focuses on investing in blockchain and crypto projects. The firm supports the development of decentralized technologies and infrastructure.
Location: United States
Website: https://www.borderlesscapital.io/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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