Peaq Backs $100M DePIN Fund III by Borderless Capital, Fuels Decentralized Infrastructure

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Veronika Rinecker

Crypto Journalist

Veronika Rinecker

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Veronika Rinecker is based in Germany and studied international journalism and media management. She specializes in reporting on topics such as politics and regulation, energy, blockchain, and...

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September 19, 2024 14:25 EDT

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Peaq, a Germany-based Layer-1 platform focused on decentralized physical infrastructure networks (DePINs), announced on Sept. 19 that it has invested as an anchor investor in DePIN Fund III, a $100 million venture fund launched by Borderless Capital.

In addition to peaq, DePIN Fund III boasts an impressive list of other backers, including the Solana Foundation, Jump Crypto, IoTeX, and GSR.

Powering DePIN Growth

DePINs are transforming how physical infrastructure is built and maintained by leveraging blockchain technology and token incentives.

This decentralized model allows individuals to participate in building networks for connectivity, GPU clusters, edge computing, mapping, and more, with greater efficiency and lower cost compared to traditional Web2 solutions.

DePIN Fund III, managed by a team of seasoned industry experts, including Helium co-founder Sean Carey and former Telefónica executive Alvaro Gracia, will focus on investing in promising DePIN projects that are transforming traditional industries.

Peaq’s investment in DePIN Fund III offers several benefits to the broader DePIN community. The fund will provide additional capital to DePIN projects, enabling them to scale their operations and reach new markets.

Peaq Strengthens Network with Industry Leaders

Peaq is actively expanding its reach and influence within the Web3 ecosystem through strategic partnerships with industry leaders and technological advancements.

On Sept. 11, peaq strengthened its network by adding prominent European enterprises 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 a wealth of expertise and resources to the peaq ecosystem.

With a combined valuation of over $170 billion, these organizations are now supporting the network’s infrastructure and opening up opportunities for community members to stake their tokens and share in the rewards.

Earlier this year, peaq itself secured a $15 million funding round that should fuel the development of peaq and its ecosystem ahead of its highly anticipated mainnet launch in May 2025.

Generative Ventures and Borderless Capital led the funding round, which also included significant participation from Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, and other prominent investors.

Behind peaq is EoT Labs, a Berlin-based startup founded in 2017 by Leonard Dorlöchter, Max Thake, and Till Wendler. The company’s mission is to apply decentralization to physical infrastructure and systems, creating an “Economy of Things” network.