Home Editor's Pick peaq Raises $15M to Expand DePIN Ecosystem on Layer-1 Blockchain

peaq Raises $15M to Expand DePIN Ecosystem on Layer-1 Blockchain

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peaq, a layer-1 blockchain designed for decentralized physical infrastructure networks (DePINs) and Machine RWAs, has announced the successful completion of a $15 million pre-launch funding round. The multi-tranche round was led by Generative Ventures and Borderless Capital, with participation from several prominent investors in the Web3 space, including Spartan Group, HV Capital, CMCC Global, Animoca Brands, and others.

TLDR

peaq, a layer-1 blockchain for DePIN and Machine RWAs, raises $15 million in a pre-launch funding round
The funds will be used to expand the peaq ecosystem, which already hosts more than 20 decentralized physical infrastructure networks (DePINs)
DePINs are decentralized applications that incentivize people to build, own, and run real-world physical infrastructure using tokens
peaq offers Modular DePIN Functions and supporting tools to enable DePINs to build and deploy their projects on the blockchain
The funding round follows a year of growth for peaq, with collaborations with companies like Bosch, Fetch.ai, and various DePINs joining the ecosystem

The funds raised will be allocated towards further expanding the peaq ecosystem, which already boasts more than 20 DePINs—a number that surpasses the likes of Solana, Polygon, and other well-known layer-1 blockchains. This funding comes at a crucial time for peaq as it prepares for its public offering, mainnet launch, and token listing after years of research and development.

DePINs have emerged as one of the most prominent sectors in the Web3 industry, with an estimated market of $3.5 trillion by 2028, according to Messari. These decentralized applications use tokens to incentivize people to build, own, and run real-world physical infrastructure, making them distinct from other Web3 sectors due to their leverage of real APY-generating devices.

To support the growth and potential of DePINs, peaq offers a range of Modular DePIN Functions, such as Multi-Chain Machine IDs, AI Agents, and data verification. The ecosystem also features various supporting tools and services, including a Machine Tokenization (RWA) platform and a DePIN Accelerator program in collaboration with Outlier Ventures.

The past year has seen significant growth for peaq, with over 20 DePINs joining the ecosystem, spanning diverse applications from noise pollution measurement (Silencio) to tokenized car-sharing Teslas (ELOOP) and community-run antennas tracking plane location data (Wingbits). peaq also collaborated with the Bosch-led Gaia-X moveID project to demonstrate peer-to-peer parking at IAA MOBILITY in Munich and presented an AI-powered sensor hub for DePINs in partnership with Bosch and Fetch.ai.

Investors have expressed their enthusiasm for peaq’s mission and progress. Lex Sokolin, Managing Partner at Generative Ventures, praised peaq’s efforts in making the concept of the Economy of Things a reality, while Álvaro Gracia, Partner at Borderless Capital, highlighted the importance of DePINs in linking Web3 with productive, value-generating real-world infrastructure.

As peaq approaches its mainnet launch and public offering, the team plans to further open the ecosystem to the community, providing access to tokens and supporting projects building on the blockchain.

The post peaq Raises $15M to Expand DePIN Ecosystem on Layer-1 Blockchain appeared first on Blockonomi.

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