Peaq Backs Borderless Capital’s $100M DePIN Fund III, Boosting Decentralized Infrastructure
Date: 2024-09-20 Author: Oliver Abernathy Categories: BUSINESS
Peaq, a German Layer-1 platform focused on decentralized physical infrastructure networks (DePIN), announced on September 19 that it has joined as an anchor investor in DePIN Fund III, a $100 million venture fund launched by Borderless Capital.
In addition to peaq, other investors in DePIN Fund III include Solana Foundation, Jump Crypto, IoTeX, and GSR.
DePIN Fund III: Investing in the Future of Decentralized Networks
DePINs are transforming the way physical infrastructure is built and maintained using blockchain technology and tokenized incentives.
This decentralized model allows individual participants to build networks for communications, GPU clusters, edge computing, mapping, and other tasks with greater efficiency and lower costs than traditional Web2 solutions.
Led by a team of seasoned industry experts, including Helium co-founder Sean Carey and former Telefónica executive Álvaro Gracia, DePIN Fund III will focus on investing in promising DePIN projects that are transforming traditional industries.
Accelerating DePIN Growth
peaq’s investment in DePIN Fund III provides multiple benefits to the broader DePIN community. The fund will provide additional capital to DePIN projects, allowing them to scale their operations and enter new markets.
Peaq Strengthens the Network with Industry Leaders
Peaq is actively expanding its influence in the Web3 ecosystem through strategic partnerships with industry leaders and technological innovation.
On September 11, peaq strengthened its network by adding major European companies and research institutions to its genesis node pool.
The new node operators, including Deutsche Telekom MMS, Lufthansa Innovation Hub, Bertelsmann Investments, and the Technical University of Munich (TUM), bring significant expertise and resources to the peaq ecosystem.
These organizations, collectively valued at over $170 billion, now support the network’s infrastructure and provide opportunities for community members to stake their tokens and participate in rewards.
Earlier this year, peaq raised $15 million in a funding round that should accelerate the development of the peaq platform and its ecosystem ahead of its highly anticipated mainnet launch in May 2025.
The round was led by Generative Ventures and Borderless Capital, with Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs and other notable investors also participating.
The peaq project is backed by Berlin-based startup EoT Labs, founded in 2017 by Leonard Derloechter, Max Tacke and Till Wender. The company's mission is to apply decentralization to physical infrastructure and systems, creating a network of "Things Economy".
