According to Foresight News, DePIN infrastructure DePHY completed a multi-million dollar seed round with a valuation of US$40 million, with participation from Foresight Ventures, Blockchain Builders Fund, IoTeX, Paramita, FutureMoneyGroup, Waterdrip Capital, DefinanceX, PAKA and Candaq Fintech Group. Investment, the funds raised will be used for the expansion and operation of the developer community and platform projects. Additionally, DePHY will deploy a trusted DID (decentralized device identity) solution on Solana and recently received funding from the Solana Foundation.
DePHY is an all-in-one DePIN framework that significantly reduces the costs and timeframes associated with DePIN project development.