New York, Thursday, August 15, 2024- Andrena, a Solana-based decentralized physical infrastructure network (DePIN) project, announced on August 7, that it had raised $18 million in a funding round led by Dragonfly.1
The round also saw participation from CMT Digital, Castle Island Ventures, and Wintermute Ventures.
Andrena said that the funds would be used to complete the protocol and expand Andrena’s subscriber base, as well as migrate its end-user transactions on-chain with DAWN (Decentralized Autonomous Wireless Network).
Andrena said it had been on the forefront of DePIN before the term existed.
In addition to Andrena’s funding news, zk-powered exchange Vessel raised $10 million in a seed round on August 6, 2024. The round was backed by Sequoia, Scroll, and Folius Ventures.
Vessel aims to merge the efficiency of centralized exchanges with the transparency of decentralized platforms, enhancing the overall cryptocurrency trading experience.
Other notable funding rounds in the past week include Zoth, a DeFi yield infrastructure company, raising $4 million; Payman AI, an AI-to-human payments firm, securing $3 million in a pre-seed round; Blockscout, an EVM-based block explorer, raising $3 million; and Nexio, a Bitcoin rollup platform, closing a $2.2 million pre-seed round.
