German-based DePIN startup peaq has secured $15 million in a Series A round ahead of its mainnet launch in May 2024.
German-based blockchain startup peaq has secured $15 million in a Series A round led by Generative Ventures and Borderless Capital.
Layer-1 platform peaq — focused on decentralized physical infrastructure networks — has disclosed a $15 million funding round ahead of its mainnet launch in May. Behind the peaq network is the Berlin-based startup EoT Labs, founded in 2017 by Leonard Dorlöchter, Max Thake, and Till Wendler. The peaq blockchain applies 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.
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.
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