TechFlow News — DePIN infrastructure project DePHY has completed a multi-million dollar seed round at a $40 million valuation. The funding was led by Foresight Ventures, Blockchain Builders Fund, IoTeX, Paramita, FutureMoneyGroup, Waterdrip Capital, DefinanceX, PAKA, and Candaq Fintech Group. The raised capital will be used to expand and operate developer communities and platform initiatives. Additionally, DePHY plans to deploy its trusted DID (Decentralized Device Identity) solution on Solana and has recently received grant support from the Solana Foundation.
DePHY is an all-in-one DePIN framework that significantly reduces the cost and time required to develop DePIN projects. It provides open-source hardware solutions, a decentralized messaging layer, and automated tokenomics execution for all DePIN initiatives. DePHY’s messaging layer leverages Trusted Execution Environments (TEE) and Zero-Knowledge (ZK) oracles to ensure data verifiability and low latency, enabling secure, verifiable, and fast data transmission from hardware to blockchain.
