The week has been awash with announcements of funding. Andrena announced that it would launch DePIN, a decentralized broadband system.
Decentralized Autonomous wireless Network (DAWN), led by Dragonfly, raised a total amount of $18 Million in a funding round. CMT Digital and Castle Island Ventures contributed as well.*
“Andrena has been on the forefront of DePIN before the term existed. Since we first backed the firm they have built a significant install base and are perfectly positioned to layer on the DAWN network,” Nic Carter, founding partner of Castle Island Ventures. “We are strong believers in the notion that households will both consume and provide network resources, and Andrena is an emerging market leader in this domain.”
According to the press release, these funds will be used for expanding and completing protocol. “Andrena’s subscriber base and migration of its end-users transactions onchain with DAWN.”
Vessel, a zk exchange that raised $10m in seed funding, was another double-digit raiser. Sequoia Ventures was joined by Scroll Ventures as well as Folius Ventures.
This project claims it “combines the efficiency and user-friendliness of centralized exchanges (CEX) with the transparency and security of decentralized platforms (DEX).”
“Our mission is to transform cryptocurrency trading into a secure and seamless journey, improving transparency, accessibility and efficiency for all users. We are poised to revolutionize cryptocurrency trading with superior services in spot trading, perpetual trading and other innovative derivatives,” In a blog post, the team explained their reasoning.
Additional notable rounds
- Zoth, an infrastructure provider for DeFi, announced that it had raised $4 million through a round of strategic financing. Taisu Ventures Fat Cat Ventures AstraX Capital, and other investors are included.
- Payman AI is a company that builds AI for human payments. They announced $3 million as a seed round. Visa, CB Ventures, and Untapped Capital were among the investors.
- Blockscout is a block-explorer that focuses on EVM chains. It raised $3M in a funding round, led by 1kx. Gnosis Ventures, Primitive Ventures, and other investors were included.
- Nexio announced that it had raised $2.2 Million in a seed round, led by Lattice.
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