Blockchain project peaq, a Layer 1 for decentralized physical infrastructure networks (DePINs), has raised $15 million in a pre-launch multi-tranche funding round co-led by Generative Ventures and Borderless Capital.

Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, TRGC, DWF Labs, Crit Ventures, Cogitent Ventures, NGC Ventures, Agnostic Fund, Altana Wealth, also participated in the round, among others. 

The funding will be used to expand peaq’s ecosystem of more than 20 DePINs in areas including multi-chain machine IDs, AI agents and data verification, according to a statement shared with The Block.

More specifically, the capital will be allocated toward developing peaq’s Modular DePIN functions and SDK, enabling DePIN projects to build …