German-based DePIN startup peaq has secured $15 million in a Series A round led by Generative Ventures and Borderless Capital.
Decentralized physical infrastructure network (DePIN) peaq has disclosed a $15 million funding round ahead of its mainnet launch in May.
The round was led by Generative Ventures and Borderless Capital, with participation from Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, and other investors.
The German-based startup was founded in 2017 by Julia Pönitzsch, Leonard Dorlöchter, Max Thake, and Till Wendler to apply 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.
