Hivello Announces Upsized Funding Round, Raising USD $2.5M Amidst High Demand

TORONTO, Jan. 31, 2024 /PRNewswire/ -- Hivello, at the cutting edge of Decentralized Physical Infrastructure Networks (DePIN), has announced an upsized funding round, raising an additional USD $1.5 million and bringing the total raised in the prior 4 weeks to USD $2.5 million.

This influx of capital is a testament to the confidence the market places in Hivello's mission to democratize access to decentralized infrastructure. The extended round attracted a roster of eminent new investors, including Blockchange (USA), Cypher Capital, MH Ventures, Primal Capital, Contango Digital Assets, and Candaq, joining industry leaders NGC, Blockchain Founders Fund, IDG, and others from the prior pre-seed investment round.

Domenic Carosa, Chairman and Co-Founder of Hivello, commented on the expanded round: "The incredible surge in demand we've seen from investors confirms the pressing need for accessible decentralized infrastructure. The decision to upsize our round allows us to accelerate our mission and bolster our platform ahead of schedule. We are honored by the commitment shown by both new and returning investors who share our vision for the future of DePIN."

The additional funds will enable Hivello to expand its technological capabilities, expedite product development, and strengthen its market position as a leader in DePIN services.

We live in a world where our most expensive assets are not always fully utilized, said Ken Seiff, Managing Partner of Blockchange Ventures.  The internet helped us optimize our cars and our homes - but much more can be done.  The blockchain is ideally suited to utilize the massive number of computers across the globe. Working together, these machines can rival the largest cloud providers, allowing owners to monetize without any of the capital expenditure. We are excited to back the great founders of Hivello, which is helping owners generate and optimize revenue by redirecting computation and other digital resources to its highest and best use case.

This funding round, both original and extended, showcases the high conviction investors have in Hivello's team and the DePIN industry's potential. As Hivello prepares for an eventful year following its successful technology launch, the company is well-positioned to make a significant impact on the global stage of decentralized services.

"Hivello more than doubling their round in only 4 weeks is a testament to the strength of their team and mission - it's great to see other big-name investors backing this innovative company," said Tobias Bauer, Partner at Blockchain Founders Fund.

For more information about Hivello's offerings and future developments, please visit www.hivello.com.

About Hivello:

Hivello, led by distinguished blockchain payment solution pioneers, is dedicated to transforming the accessibility of decentralized services globally. As a leader in the Decentralized Physical Infrastructure Networks (DePIN) sector, Hivello stands at the vanguard of democratizing access to decentralized infrastructure.

Contact:
Domenic Carosa
Co-Founder & Chairman
Hivello Holdings Ltd
[email protected]
+61 411 19 69 79

SOURCE Hivello