Latest DePIN Funding News

SingularityNET and Filecoin have announced a partnership to integrate decentralized AI and physical infrastructure networks, emphasizing ethical AI development and data provenance. They plan to form an AI ethics working group and use Filecoin's technology to enhance security and support AI data storage. Alchemy Pay has also partnered with Chiliz Chain to allow users to purchase CHZ and fan tokens, aiming to revolutionize fan engagement in sports and entertainment.

SingularityNET, an AI platform developer, and the Filecoin Foundation have announced a partnership to integrate AI and decentralized physical infrastructure networks while maintaining decentralization, AI ethics, and data provenance. The collaboration will establish an AI ethics working group to ensure ethical AI development and deployment. The partnership has objectives across different timelines, including using Filecoin's Lighthouse SDK for metadata storage and integrating Filecoin's technology stack into SingularityNET for improved security and AI-generated data storage infrastructure. In the long term, the collaboration aims to use Filecoin to manage Knowledge Graphs, essential to SingularityNET's Knowledge Layer initiative. Both the ASI token and the Filecoin (FIL) token will be used in the partnership.

Decentralized physical infrastructure networks (DePin) are gaining traction with innovative projects in telecommunications, GPUs, and IoT devices. Projects like io.net, Helium, and Akash Network have shown significant fee generation, attracting investors and analysts. Despite token price struggles, the DePin ecosystem thrives on token rewards and network growth, attracting developers and users. Notable projects include Nodle Network with 780,000 devices and Grass with 2 million users, indicating a promising future for DePin despite market fluctuations.

Decentralized Physical Infrastructure Networks (DePin) are making waves in the tech industry by facilitating decentralized projects in real-world infrastructure. ATOR Protocol has rebranded to Anyone, aiming to make internet privacy a standard for all users with its new Anon network. Meanwhile, Verida secured over $5 million in funding, valuing the decentralized personal information network at $50 million. Lastly, Synternet, a Layer-1 blockchain for AI, DeFi, DePIN, and IoT projects, has launched its mainnet on the Cosmos network, enabling a decentralized data economy.

Nubila, a leading data oracle in the Decentralized Physical Infrastructure Network (DePIN) ecosystem, has initiated a fundraising round. The round is led by IoTeX and VeChain, along with the Boston Consulting Group, and has attracted participation from a diverse group of investors including OrangeDAO, MH Ventures, Future Money Group, and others. To date, Nubila has secured $2.5 million in funding. This investment reflects the industry's recognition of Nubila's potential to use AI and tokenization to enhance decision-making, promote sustainable development, and create financial products with ESG data. Nubila's founder, Ben, envisions building the infrastructure for the MachineFi revolution by establishing a network of advanced weather stations and sensors to capture critical environmental data. The integration of real-time ESG data into AI models, such as Microsoft's Aurora atmospheric model, will improve ESG assessments and drive more informed and sustainable decision-making across various industries. With the new funding, Nubila aims to scale its operations and expand its global reach to contribute significantly to the planet's sustainability and well-being. The funds will be used to scale Nubila's operations, develop its ESG Data Oracle, and pursue strategic goals like enhancing data accuracy, expanding the network's reach, and increasing user engagement and awareness of sustainable investment. Raullen Chai, Founder of IoTeX, praises Nubila for leveraging DePIN and AI to transform ESG data management, noting the revolutionary approach of creating a decentralized ESG network of community-owned IoT devices. Nubila has deployed 16,000 advanced weather stations worldwide, capturing over 100TB of weather data for accurate ESG assessments. Headquartered in San Francisco, Nubila is dedicated to transforming sustainability initiatives through innovative solutions within the DePIN ecosystem, using AI and ESG tokenization to empower decision-making and drive sustainable development.

The DePIN Base Camp, a Web3 accelerator program, has chosen six startups to participate in its 12-week program. These startups are developing applications and products that leverage digital networks, decentralized infrastructures, and data services. The program, run by Outlier Ventures in partnership with peaq and supported by Borderless Capital, aims to advance the DePIN sector through enhanced connectivity, data security, and resource utilization. The selected teams are from diverse fields, including IoT hardware networks, AI, digital twins, cybersecurity, and cloud gaming. They will receive mentorship, workshops, and investment from Borderless Capital, a leading venture capital firm in the DePIN space.

The MetaCannes Film3 Festival, a collaboration between Theta Network and The Squad, concluded on May 25, 2024, offering a tech-forward and inclusive cinematic experience. The event featured world premieres, live streaming, and a focus on empowering underrepresented voices in the film industry. Sian Morson, founder of The BlkChain, curated a Short Film Block highlighting BIPOC voices, while Herflix sponsored a women-focused content feed and hosted the Better World Foundation gala. Swan Sit, known as the 'Queen of Clubhouse,' hosted the Herflix gala, which was attended by notable figures such as Juliette Binoche and Lang Lang. The festival introduced the Next Wave of Cinema Awards, with 'FREE FALL' winning the Grand Jury Golden Wave Award and 'FALLING FROM GRACE' receiving the Special Jury Prize for AI Cinema. MetaCannes emphasized AI's role in filmmaking through its MetaCannesNEXT segment, showcasing AI's impact on storytelling and distribution. Attendees enjoyed exclusive screenings of award-winning short films and new works by innovative filmmakers. Powered by Theta Network's NFT-based digital rights management, the festival provided a secure and transparent platform for film access. The event also launched exclusive NFT passes, enhancing the viewer experience with blockchain technology and offering access to creators in a token-gated Discord channel.

Decentralized energy network Starpower has completed a $2 million pre-seed funding round, with participation from Alliance, Arweave, IoTeX, Bas1s Ventures, and angel investors including Max Jungreis, Shen Bo, and Sal Gala. Starpower uses the DePIN model to connect energy power equipment like air conditioners, batteries, and electric vehicles, establishing a dispatchable energy management network to improve power efficiency and reduce grid fluctuations, accelerating global energy transformation. Currently, Starpower has 50,000 app and hardware users, aiming to connect over a million power devices within three years and become one of the world's largest distributed energy aggregators.

IoTeX, a leading modular DePIN blockchain platform, is set to host a Demo Day for the first cohort of its DePIN Surf accelerator program on April 30, 2024. Launched in January 2024 with support from FutureMoneyGroup and ForesightX, the DePIN Surf accelerator is dedicated to supporting DePIN founders. DePIN, a technological paradigm, covers any web-3 application with a physical element, including edge-AI and virtual power plants. The first cohort, which was officially launched at the R3al World event at ETHDenver, features seven startups preparing for their Token Generation Event (TGE) and global launch. During the two-month program, founders receive a $50k investment and comprehensive support from the IoTeX core team and a group of elite mentors. The program includes workshops on raising series-A funding, DePIN tokenomics, and community management fundamentals, as well as presentations at global web-3 events. DePIN has been gaining traction in web-3 circles as a key to connecting the crypto industry with the global population of non-crypto natives who rely on reliable physical infrastructure. The number of DePIN projects has grown exponentially from less than a hundred in late 2022 to over a thousand at the time of writing. However, DePIN projects face challenges such as designing and executing hardware manufacturing and distribution, which can take several years, in addition to building the tech stack that includes firmware, middleware, and software. DePIN Surf provides these projects with the support they need. The projects presenting at the Demo Day include: - Inferix: A decentralized GPU computing platform for visual computing and AI inference, with a major market share in Southeast Asia, India, and other developing markets. - Wayru: The world's first DePIN to partner with the UN to tackle the global connectivity crisis, using blockchain and the $WAYRU token to incentivize hotspot deployment and management. - PowerPod: A decentralized EV charging network providing reliable and accessible charging solutions for electric vehicles worldwide. - Network3: A dedicated AI layer-2 providing services to AI developers, helping them train and validate models quickly and efficiently. - StarPower: An AI and Web3-powered global energy network connecting devices in energy generation, storage, and consumption scenarios. - ATOR: A privacy protocol creating a safer, private layer for the internet through its DePIN routing network and signature hardware and software SDK. - DePHY: A decentralized off-chain data messaging network designed to empower DePIN projects to deploy faster and cheaper. IoTeX is a modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains, enabling developers to integrate Web3 into everyday life through various innovations. With the launch of W3bstream, IoTeX has become a leading Decentralized Physical Infrastructure Network (DePIN) technology provider, connecting billions of smart devices, machines, and sensors across the physical and digital world.

IoTeX, a decentralized Physical Infrastructure Network (DePIN) platform, has successfully secured a $50 million investment from a consortium of leading venture capital firms. This funding round, spearheaded by SNZ Capital, Foresight Ventures, FutureMoneyGroup, and Borderless Capital, aims to accelerate the growth and adoption of IoTeX's ecosystem. The funds will be allocated towards long-term staked IOTX, the native token of the IoTeX network, and investments in DePIN projects building on the platform. IoTeX's platform is designed to connect smart devices and real-world data to blockchains, enabling developers to integrate Web3 technology into everyday life. With its EVM-compatible L1 blockchain, off-chain compute middleware, and open hardware, IoTeX facilitates the interaction between billions of smart devices, machines, sensors, and dApps across the physical and digital world. The IoTeX ecosystem has been actively involved in developing and expanding DePIN throughout 2024. In early 2024, FutureMoney Group, in partnership with the IoTeX Foundation, launched a $5 million DePIN accelerator program to support startups innovating in the space. Additionally, IoTeX has formed strategic alliances with organizations such as Ankr to bolster the DePIN ecosystem and enhance the performance and decentralization of decentralized networks. Jing Sun, Co-Founder and Head of Investment at IoTeX, emphasized the potential for startups to innovate and bring verified, real-world data on-chain within the growing DePIN ecosystem. Keith Chen, Founding Partner of SNZ Capital, expressed excitement about investing in IoTeX and the DePIN projects building on its modular platform. Borderless Capital, known for being one of the most active DePIN investors, also participated in the funding round. With a focus on modular infrastructure, privacy, and traffic-routing solutions, IoTeX has positioned itself as a key player in the ongoing evolution of DePIN. The platform's commitment to simplifying the lives of application builders by providing off-the-shelf infrastructure solutions and support for go-to-market strategies, liquidity building, and community development has attracted developers and fostered innovation within the DePIN space.