DePIN Project Daylight Raises $9 Million Led by A16z Crypto

IconCryptoNewsTerminal Staff31 Jul, 2024

cryptonews.jpg

DePIN Project Daylight Raises $9 Million Led by A16z Crypto

Daylight, a decentralized physical infrastructure network (DePIN) project, has raised $9 million in a Series A funding round led by A16z crypto. The funding round also included Framework Ventures, Lattice Fund, Escape Velocity, and Leer Hipped. Daylight is building its protocol on Coinbase's Ethereum Layer 2 network Base and launched its testnet on Jan. 31. The company did not disclose how it will use the funds. Daylight is a decentralized network that provides physical infrastructure for Web3 applications. The network is designed to be scalable, secure, and cost-effective. Daylight's goal is to make it easier for developers to build and deploy Web3 applications. The funding round will help Daylight to accelerate the development of its network and to expand its team. The company is also planning to launch its mainnet later this year. ---

Related News