WeatherXM AG, a startup developing the weather-focused decentralized physical infrastructure network (DePIN) WeatherXM, raised $7.7 million in Series A funding led by Lightspeed Faction. 

Additional participation in the round came from Protocol Labs, Borderless Capital, Arca, Alumni Ventures, Placeholder VC, Red Beard Ventures, Metaplanet, GS Futures, Consensys Mesh, Westerly Ventures, dlab, Eleftherios Diakomichalis and Juan Benet, according to a release shared with The Block. 

WeatherXM's board of directors will not change following the funding round, the firm's co-founder and CEO Manolis Nikiforakis told The Block, adding that WeatherXM will use the funds to continue developing crypto-enabled hardware, improve data quality and forecast algorithms, onboarding third-party …