Latest DePIN Funding News

Mizzle, a DePIN platform, has received a $1 million investment from tech investor Onextel to enhance its compute and storage platform. The funding will be used to improve platform capabilities, security features, and user experience. Mizzle's technology combines AI-based DevOps, eBPF security, and advanced encryption to offer a secure and efficient decentralized infrastructure solution. The investment is expected to help Mizzle capture a significant share of the growing DePIN market.

Filecoin (FIL) is expanding its reach in the AI space through strategic partnerships, aiming to become a key player in the web3 AI infrastructure. The decentralized data storage network has teamed up with Theoriq to develop smart AI Agents, which will facilitate easier access to data hosted on Filecoin, enhancing autonomy and efficiency. Additionally, a collaboration with Nuklai will establish a decentralized database to support AI and machine learning, with Nuklai utilizing Filecoin's network for data storage through its Lighthouse service. These integrations are part of Filecoin's broader DePIN (Decentralized Physical Infrastructure Networks) narrative, which combines blockchain with real-world assets and infrastructure to create a global decentralized storage system, compensating contributors with FIL tokens. Despite these advancements, Filecoin faces challenges such as scalability, governance, and regulatory compliance, which must be addressed for widespread adoption.

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.