The Dragonfly-led funding license, based on the Decentralized Physical Infrastructure Network (DePIN) protocol designed to provide decentralized Internet services.
Chatterjee said the Series A extension brings Andrena's total funding to $3,800 million. He declined to comment on the company's valuation and whether investors joined the board of directors. Last year, Andrena raised $11,500 million in a Series A led by Dragonfly.
Andrena is developing DAWN (Decentralized Autonomous Wireless Network), a Solana-based DePIN protocol designed to provide decentralized Internet services.
"DAWN has been in development since last fall, Chatterjee said.
DAWN aims to do to the Internet what solar panels have done to electricity. Just as consumers generate their own electricity and sell the excess back to the grid, they can do the same with wireless Internet for homes and businesses.
Andrena worked with Pramod Viswanath, a professor at Princeton University, to introduce "Proof of Transit Connections. Proof of transit ensures that a node has a functional connection to the wider Internet. Chatterjee said Vishwanath developed the transit confirmation algorithm, a key component of DAWN's trust framework. Notably, Viswanath is one of the lead developers of Sentient, an open source artificial intelligence development platform, along with Sandeep Nailwal, co-founder of #Polygon and others. 1 Sentrie recently raised $88,500 million in its first round of funding.
Founded in 2016, Andrena has been providing internet services in 10 US states including New York, New Jersey, Texas, Tennessee, Florida and Pennsylvania using hundreds of rooftop wireless devices since 2019. The company is currently planning to gradually migrate existing customers and revenue to the network, starting with the token's launch date, which is yet to be determined.
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