According to Foresight News, the DePIN project's Sending Network has successfully raised $7.5 million in funding. The round saw participation from Nomad Capital, Symbolic Capital, Web3.com Ventures, Galxe, SWC Global, Balaji Srinivasan, and Gabby Dizon, co-founder of Yield Guild Games. Mason Yang, co-founder of Sending Network, stated that the structure of this funding round was a simple agreement for future equity (SAFE) and concluded in October last year.
In addition to this, Sending Network is in the process of developing SendingMe, a decentralized application that combines chat, social interaction, and trading, allowing users to control their own social layer. The company anticipates launching several test networks this year and plans to launch the main network in the first quarter of 2025.