TechFlow reported on August 7, according to The Block, that Andrena, a Solana-based decentralized physical infrastructure network (DePIN) project, has raised $18 million to develop the Decentralized Autonomous Wireless Network (DAWN). The funding round was led by Dragonfly, with participation from CMT Digital, Castle Island Ventures, and others. Neil Chatterjee, co-founder of Andrena, said the round was structured as a SAFE and originally aimed to raise $5 million but was significantly oversubscribed, ultimately securing $38 million.
DAWN aims to provide users with decentralized internet services, allowing them to purchase its native token via a mobile app and use those tokens to buy internet bandwidth provided by the community. The network plans to cover 3 million households in the United States and expand into Asia, Europe, and Latin America. DAWN is currently running on testnet, and the specific mainnet launch and token listing dates have not yet been announced.
