Amsterdam-based Hivello Secures USD$1M in Pre-Seed Funding. NGC, Blockchain Founders Fund, Side Door Ventures, IDG, Bing Ventures, MEXC Exchange, XT.com Exchange, Genesis Block, and NxGen were among those participating in the round.
The funds will be utilised by the business to expand both its operations and growth initiatives. Under the leadership of Andrew Smith and Domenic Carosa, Hivello is committed to using Decentralised Physical Infrastructure Networks (DePIN) to revolutionise the accessibility of decentralised services worldwide.
Hivello, they are opening up a fresh chance for anybody to participate in web3 projects and generate passive income without having any prior blockchain knowledge.
With their technology, users can install an application on their physical devices, such as computers, routers, modems, and storage nodes. Without requiring any specialised technical knowledge, they can begin mining DePIN (Decentralised Physical Infrastructure Networks) protocols for Web3 applications by contributing resources.