According to BlockBeats, the Ethereum-compatible blockchain IoTeX ecosystem has secured $50 million in funding for DePIN optimization. The investment round was participated in by Borderless Capital, Amber Group, Foresight Ventures, FutureMoney Group, SNZ, Metrics Ventures, EV3, and Waterdrip Capital. The IoTeX team stated that this investment will drive the growth and adoption of DePIN through long-term staking of IOTX, the DePIN token that manages and promotes IoTeX DePIN. The funds will also be invested in IoTeX-based DePIN projects, in collaboration with the IoTeX Foundation and DePINsurf accelerator fund.
IoTeX Ecosystem Secures $50 Million Funding for DePIN Optimization
![](https://public.bnbstatic.com/image/pgc/202211/ff39a105a210ecd0a61407a69ad82dbd.jpg)
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