DePIN Hardware Security Vendor Parasail Nets $4 Million in Seed Funding

IconCryptoNewsTerminal Staff29 May, 2024

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DePIN Hardware Security Vendor Parasail Nets $4 Million in Seed Funding

DePIN hardware security vendor Parasail has secured $4 million in a seed funding round led by Protocol Labs through X. Fenbushi Capital, Modular Capital, Factorial Group, DWF Ventures, Age Crypto, and Waterdrip Capital also participated in the round. The company's valuation has reached $50 million. Parasail intends to use this funding to continue developing its product.