IoTeX Secures $50M Investment to Accelerate DePIN Growth and Adoption

IoTeX, the web3 infrastructure for DePIN projects platform secures $50M Investment from SNZ Capital, Foresight Ventures, Borderless Capital, Amber Group, FutureMoneyGroup, Metrics Ventures, EV3, Waterdrip Capital and Others. The aim is to accelerate the DePIN growth & adoption through an investment in long-term staked $IOTX. $IOTX serves as the DePIN token, driving governance and power within the IoTeX DePIN ecosystem, while also facilitating investments in DePIN projects.

Jing Sun, Co-Founder and Head of Investment of IoTeX, said, “The richness of the ever-growing DePIN ecosystem presents an exciting opportunity for startups to innovate and bring verified, real-world data on-chain. As a modular infrastructure, IoTeX fast-forwards the growth of projects building with us. The investment from these top VCs will act as a catalyst for this industry sector, spurring the growth of more projects in the IoTeX ecosystem and DePIN as a whole.”

Key Points of this Development:

• $50 million funding will fuel further expansion and development of IoTeX’s blockchain ecosystem.
• SNZ Capital, Foresight Ventures, Borderless Capital, Amber Group, FutureMoneyGroup, Metrics Ventures, EV3, Waterdrip Capital, and others have invested in this platform.
• Users can purchase $IOTX from leading exchanges such as Binance, Coinbase, Gate.io, Upbit, Bithumb, and Uniswap.
• $IOTX can be purchased using credit cards from ChangeNow, Onramp.Money, Alchemy Pay, Changelly, Guardarian, Swipelux, and TRANSAK.
• Users can commence staking by visiting the staking portal to earn rewards supporting network operations and consensus.

About IoTeX:

IoTeX, a modular Web3 infrastructure platform for DePIN, connects smart devices and real-world data to blockchains. Developers integrate Web3 into everyday life, enabling innovations like connected vehicles, city mapping, and green energy initiatives. The launch of W3bstream introduces the world’s first zk off-chain compute framework. IoTeX leads as a Decentralized Physical Infrastructure Network (DePIN) technology provider, fostering vertical innovations for machines, humans, businesses, and dApps. This technology links billions of smart devices, machines, sensors, and decentralized applications. The IoTeX team comprises 60+ research scientists and engineers.

Source: https://iotex.io/