TechFlow reported that IoTeX, an Ethereum-compatible blockchain focused on DePIN optimization, has raised $50 million in funding. The round was participated by Borderless Capital, Amber Group, Foresight Ventures, FutureMoney Group, SNZ, Metrics Ventures, EV3, and Waterdrip Capital.
The IoTeX team stated that the investment will drive DePIN growth and ecosystem adoption by investing in long-term staked IOTX—the native DePIN token that governs and powers IoTeX's DePIN infrastructure—and will also support DePIN projects built on IoTeX through the IoTeX Foundation and the DePINsurf accelerator fund.
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