DePIN Layer1 protocol Peaq completes $15 million financing, led by Generative Ventures and Borderless Capital

ChainCatcher news, DePIN Layer1 protocol Peaq has completed a $15 million financing round, led by Generative Ventures and Borderless Capital, with participation from Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, TRGC, DWF Labs, Crit Ventures, Cogitent Ventures, NGC Ventures, Agnostic Fund, and Altana Wealth.

It is reported that the funds will be used to expand the Peaq ecosystem, which consists of over 20 DePINs, covering areas such as multi-chain machine IDs, AI agents, and data validation. The protocol is expected to conduct a public offering and token listing in the coming weeks, with its mainnet planned for launch in May. An incentive program aimed at supporting the development and adoption of DePINs on Peaq is also planned, including gamified challenges that provide rewards for participants.

According to the crypto data platform RootData, in June 2022, Peaq announced the completion of a $6 million seed round financing, led by Fundamental Labs, with participation from HashKey Capital, GSR Markets, Delta VC, Mulana, Cypher Capital, GravityX, Waterdrip, Ceras, and Master Ventures.