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Peaq Supports $100M DePIN Fund III from Borderless Capital, Boosts Decentralized Infrastructure
Peaq, a Layer-1 platform headquartered in Germany that concentrates on decentralized physical infrastructure networks (DePINs), revealed on September 19 that it has taken a position as an anchor investor in DePIN Fund III, a $100 million venture fund introduced by Borderless Capital.
Alongside peaq, DePIN Fund III features a remarkable lineup of additional investors, such as the Solana Foundation, Jump Crypto, IoTeX, and GSR.
1/ Borderless is thrilled to announce the commencement of our $100M DePIN Fund III aimed at bolstering the growing DePIN ecosystems, courtesy of our highly strategic LPs, @peaqnetwork @SolanaFndn @iotex_io @jump_ @WormholeFdn @GSR_io @movementlabsxyz @GEODNET_ among others!
This new fund… pic.twitter.com/KdvGLBwjn6— Borderless (@borderless_cap) September 18, 2024
DePIN Fund III: Investing in the Future of Decentralized Networks
DePINs are revolutionizing the construction and maintenance of physical infrastructure by utilizing blockchain technology and token incentives.
This decentralized approach empowers individuals to engage in the creation of networks for connectivity, GPU clusters, edge computing, mapping, and more, achieving enhanced efficiency and reduced costs when compared to traditional Web2 solutions.
DePIN Fund III, overseen by a team of experienced industry professionals, including Helium co-founder Sean Carey and former Telefónica executive Alvaro Gracia, will concentrate on investing in innovative DePIN projects that are transforming conventional industries:
Powering DePIN Growth
Peaq’s involvement in DePIN Fund III presents numerous advantages to the broader DePIN community. The fund will supply additional resources to DePIN initiatives, allowing them to expand their operations and explore new markets.
peaq supports Borderless Capital's $100m DePIN Fund III
What implications does this hold for peaq and the peaqosystem?
Further informationhttps://t.co/8g5v0uwDvl
“As a trailblazer in the #DePIN arena, peaq’s expertise and focus make it an ideal partner for anything related to the real world. We… pic.twitter.com/rZcmDHmFfm— peaq (@peaqnetwork) September 19, 2024
https://t.co/8g5v0uwDvl
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Peaq Strengthens Network with Industry Leaders
Peaq is actively enhancing its reach and influence within the Web3 landscape through strategic alliances with leading industry figures and technological innovations.
On September 11, peaq bolstered its network by incorporating notable European companies and research institutions into its genesis node pool.
The new node operators, including Deutsche Telekom MMS, Lufthansa Innovation Hub, Bertelsmann Investments, and the Technical University of Munich (TUM), contribute a wealth of knowledge and resources to the peaq ecosystem.
With a combined valuation exceeding $170 billion, these organizations now support the network’s infrastructure and create opportunities for community members to stake their tokens and earn rewards.
Earlier this year, peaq secured a $15 million funding round that is expected to drive the development of peaq and its ecosystem in anticipation of its much-awaited mainnet launch in May 2025.
Announcement: peaq raises $15M in a pre-launch funding round led by @genventurecap and @borderless_cap
The funds will be allocated to facilitate quicker and easier development, launch, and scaling of #DePINs on peaq, ahead of peaq’s upcoming public offering and the launch of peaq’s… pic.twitter.com/1ErsxsIUFP— peaq (@peaqnetwork) March 27, 2024
Generative Ventures and Borderless Capital led this funding round, which also saw significant participation from Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, and other notable investors.
Peaq is backed by EoT Labs, a Berlin-based startup established in 2017 by Leonard Dorlöchter, Max Thake, and Till Wendler. The company aims to implement decentralization in physical infrastructure and systems, creating a network known as the “Economy of Things.”
The post Peaq Backs $100M DePIN Fund III by Borderless Capital, Fuels Decentralized Infrastructure appeared first on Cryptonews.
