German-based startup DEPIN platform Peaq has secured $15 million in a Series A funding round led by Generative Ventures and Borderless Capital, ahead of its mainnet launch in May. The round saw participation from Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, and other investors. Founded in 2017, Peaq aims to decentralize physical infrastructure and systems, building an 'Economy of Things' network. The company claims its ecosystem hosts over 20 DEPIN projects, surpassing the likes of Solana and Polygon. The funds will be used for ecosystem expansion, development of solutions for developers, and ahead of Peaq's upcoming public offering. DEPIN uses blockchain technology for real-world physical infrastructure, exploring use cases in energy systems, supply chains, telecommunications, and data storage. The DEPIN market could reach $3.5 trillion in the next four years, according to intelligence firm Messari. In 2021, Peaq raised nearly $2.7 million in a seed round. The additional funds will primarily be allocated to its ecosystem expansion and further development of solutions for developers.

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Decentralized physical infrastructure network (DePIN) peaq has disclosed a $15 million funding round ahead of its mainnet launch in May. The round was led by Generative Ventures and Borderless Capital, with participation from Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, and other investors. The German-based startup was founded in 2017 by Julia Pönitzsch, Leonard Dorlöchter, Max Thake, and Till Wendler to apply decentralization to physical infrastructure and systems, aiming to build an "Economy of Things" network. According to the company, its ecosystem is home to more than 20 DePIN projects — “already more than the likes of Solana, Polygon and other prominent layer-1s,” the company claimed in a statement to Cointelegraph. Announcing: peaq raises $15M in a pre-launch funding round led by @genventurecap and @borderless_cap  The funds will go towards making it easier and faster for #DePINs to build, launch, and scale on peaq, ahead of peaq’s upcoming public offering, and the launch of  peaq’s… pic.twitter.com/1ErsxsIUFP — peaq (@peaqnetwork) March 27, 2024 DePIN uses blockchain technology to incentivize people to build, own and run real-world physical infrastructure, thus distributing control across a network and avoiding centralization in any single organization’s hands. Initiatives in different industries are exploring DePIN use cases, such as energy systems for peer-to-peer energy trading, supply chains, telecommunications for internet access, and data storage for secure data management. Data from intelligence firm Messari indicates that the DePIN market valuation could reach $3.5 trillion in the next four years. The startup offers DePINs with Modular DePIN Functions, which are ready-to-use functions that allow DePINs to build and deploy their projects on the blockchain. Features available for projects include a machine tokenization platform and a DePIN Accelerator program. In 2021, peaq raised nearly $2.7 million in a seed round. The additional funds will be primarily allocated to its ecosystem expansion and further development of solutions for developers. “We will keep working on expanding the ecosystem, which will stand to benefit from more funds going into the Ecosystem Grant Program, and further developing the peaq SDK and the Modular DePIN Functions. All and all, this year is shaping up to be intense, growth-focused, and very promising, which is how we like it,” Leonard Dorlochter, co-founder of peaq, told Cointelegraph. Magazine:  Inside Pink Drainer — Security analyst defends his crypto scam franchise 

DEPIN Platform Peaq Secures $15M in Series A Funding Ahead of Mainnet Launch