Quick take:
- The decentralised physical infrastructure network (DePIN) will use the funds to expand its ecosystem of more than 20 DePINs.
- Peaq’s infrastructure is used by protocols including multi-chain machine IDs, AI agents and data verification systems.
- The company also plans to use the funds to accelerate the development of its modular DePIN functions and SDK.
Decentralised Physical Infrastructure Network (DePIN), peaq has announced a $15 million funding round co-led by Generative Ventures and Borderless Capital.
The fundraising also attracted participation from Spartan Group, Animoca Brands, CMCC Global, HV Capital, NGC Ventures, TRGC, DWF Labs, Agnostic Fund, Crit Ventures, Cogitent Ventures, Moonrock Capital, Fundamental Labs and Altana Wealth, among others.
Decentralised physical infrastructure networks use smart contracts to enable autonomous interactions inside physical infrastructures. They are rapidly becoming a popular segment of blockchain technology amid the rising interest in tokenised real-world assets.
According to the announcement peaq’s DePINs are used by the likes of Silencio – a smartphone app that measures noise pollution, ELOOP – a fleet of tokenized car-sharing Teslas, and Wingbits – a community network that tracks flights, with contributors rewarded for their valuable data.
Peaq plans to use the fresh capital to accelerate the development of its modular DePIN functions and SDK. The company is also looking to ramp up its ecosystem, which currently consists of 20 DePINs.
Commenting on the announcement, Borderless Capital Partner Álvaro Gracia said in a statement: “The novelty of DePINs is in linking web3 with real-world infrastructure that is productive and generates value that can provide sustainable income for the community.”
This announcement comes ahead of peaq’s planned mainnet launch, scheduled to take place in May, with a public offering and token listing also expected in the coming weeks.
“As we are nearing mainnet launch and public offering, this is the period that will largely define peaq’s future success,” peaq co-founder Till Wendler said. “Our plan is to further open peaq up to the community, giving it access to the tokens, and walk the extra distance to support the projects building on peaq.”
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