According to Odaily, U2U Network, a project focused on decentralized physical infrastructure network (DePIN), has successfully completed its seed funding round. The round was led by IDG Blockchain, with participation from other institutions such as dappOS, Pontem, Lumoz, ZkEX, Avalon, Catalyst, and Grindery. The company did not disclose the exact amount raised in this round, but it is reported to have reached a 'seven-figure' sum.
U2U Network is in the process of building a Layer 1 blockchain network based on subnet technology. Each U2U subnet operates independently of the main network. This means that even if the U2U main network experiences downtime, the subnets can continue to operate without interruption. In addition to this, U2U Network has also announced a donation of $1 million to promote the development of the DePIN industry.
