TechFlow reports that Grove (formerly Pocket Network), a decentralized physical infrastructure network (DePIN) provider, has announced a $7.9 million funding round with participation from Fidelity's Avon Ventures, Placeholder Capital, and Druid Ventures. Grove will use the funds to establish new partnerships and drive mainstream adoption of DePIN.
Grove can be seen as a decentralized version of Amazon Web Services (AWS) or Google Cloud. It provides Web3 infrastructure for building products and services on its POKT network, which supports over 40 different blockchains.
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