Hivello, Led by Pioneers of Blockchain Payment Solutions, Secures USD$1M to Democratize DePIN

AMSTERDAM and LONDON, Dec. 14, 2023 /PRNewswire/ -- Hivello, an innovative leader in the Decentralized Physical Infrastructure Networks (DePIN) sector, proudly announces the successful closure of a USD$1million pre-seed investment round. This strategic investment is bolstered by the backing of industry visionaries such as NGC, Blockchain Founders Fund, Side Door Ventures, IDG, Bing Ventures, MEXC Exchange, XT.com Exchange, Genesis Block, and NxGen. 

At the helm of Hivello are Domenic Carosa and Andrew Smith, co-founders of Banxa Holdings Inc. - a regulated payment entity listed on the Toronto Stock Exchange (TSX.v) renowned for its blockchain payment solutions. Leveraging their extensive experience, they are now focused on building a new wave of decentralized infrastructure with Hivello.

Domenic Carosa, Chairman and Co-Founder of Hivello, shares: "This is a pivotal step forward. At Hivello, we're committed to reshaping infrastructure by making decentralized systems universally accessible. Our deep roots in the blockchain payment sector through Banxa give us the unique ability to understand and innovate in the DePIN space. With the unwavering support of our investors, we're poised to address the burgeoning needs of blockchain-based applications with robust, democratized infrastructure."

As Hivello gears up for its technological unveiling this Christmas, the integration of up to 100 DePINs over the coming 12 months is anticipated to mark a significant leap in the availability of decentralized services.

Roger Lim, Founding Partner of NGC Ventures, comments: "Innovation is at the core of NGC's investment strategy, and Hivello embodies the transformative technology we seek. Domenic Carosa and Andrew Smith's track record with Banxa stands as a strong indicator of Hivello's potential. We're excited to play a role in Hivello's journey as they aim to redefine the DePIN space and catalyze the evolution of blockchain applications."

Tobias Bauer, Partner at Blockchain Founders Fund, adds: "Supporting Hivello's mission to democratize decentralized infrastructure is a thrilling opportunity. We see immense value in their approach to making such infrastructure widely accessible, and we are confident that Hivello's platform will significantly impact the blockchain ecosystem."

This investment round, coupled with the renowned blockchain payment expertise of Hivello's leadership, positions the company at the forefront of the DePIN industry.

For more information about Hivello and its upcoming launch, 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