DePIN network developer Verida has completed a $5 million seed round financing, with participation from multiple investment companies and individual investors, including O-DE Capital Partners, ChaiTech Ventures, Simurg Labs, Gate Labs, HASH CIB, Bison Capital, Amesten Capital, and Evan Cheng of Mysten Labs. Following this round of financing, the company's valuation has reached $50 million. The funds raised will be used to develop Verida's personal data storage infrastructure, aiming to provide users with decentralized storage and encryption services.

According to The Block, Verida, the developer of the DePIN network, has completed a $5 million seed funding round. The funding was led by O-DE Capital Partners, ChaiTech Ventures, Simurg Labs, Gate Labs, HASH CIB, Bison Capital, Amesten Capital, and Evan Cheng of Mysten Labs. The post-investment valuation reaches $50 million. The funds from this round will be used to develop Verida's personal data storage infrastructure, providing decentralized storage and encryption services for user personal information.

DePIN Network developer Verida completes $5 million seed round financing