TechFlow news: Parasail, a protocol focused on enhancing the security of DePIN hardware services, has announced the completion of a $4 million seed round at a $50 million valuation. The seed round was led by Protocol Labs, with participation from D11 Labs, MH Ventures, BitRise Capital, EV3, Fenbushi Capital, Modular Capital, Faculty Group, DWF Ventures, Foresight Ventures, AGE Crypto, and Waterdrip Capital.
The new funding will be used to accelerate the development of product features outlined in the Parasail Master Plan—aggregating assets and hardware on DePIN, providing users with service level guarantees, and dynamically coordinating hardware resources based on demand.
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