Investment Firm Framework Ventures Heads $10 Million Capital Infusion for DePIN Platform Uplink
Uplink Secures $10 Million in Funding for Decentralized Infrastructure Network
Uplink, a pioneering decentralized physical infrastructure network (DePIN), has announced the successful completion of a $10 million funding round, led by Framework Ventures. The news was revealed in a press release on Thursday.
With this investment, Uplink aims to expand its coverage, enabling more users to access connectivity in areas where it currently operates, and identifying regions where it needs to improve. The company's innovative approach will reward partners with tokens for contributing to or using the network.
Uplink's DePIN utilizes blockchain technology to distribute rewards to communities for their contributions to the development of physical infrastructure networks. The company's platform allows enterprises to integrate their existing infrastructure into the Uplink network or install compatible hardware for their communities.
Framework Ventures, the lead investor, expressed enthusiasm about Uplink's focus on large enterprise partnerships for initial adoption. They believe that in the nascent stage of DePINS, initial adoption will come from conglomerates that can actively help push fleet deployment.
Uplink was founded by Carlos Lei Santos in 2016. The company has already collaborated with leading telecommunications companies including Ericsson, Deutsche Telekom, and E.ON. Unlike other DePINS, Uplink is prioritizing larger enterprise partnerships for the initial distribution.
Looking ahead, Uplink plans to create financial incentives that encourage increased DePin-powered internet access. The company is potentially looking to form future partnerships in large corporate cooperation, particularly within innovative technology sectors such as 5G network slicing with companies like Vodafone. They also aim to collaborate with research and startup ecosystems connected to institutions like the Friedrich-Schiller-University Jena and the TU Bergakademie Freiberg that foster deep-tech and startup growth in Central Germany.
A token launch is planned for later this year by Uplink, as it continues to challenge the reliance on traditional centralized telecommunication providers and pave the way for a more decentralized future. The market value of DePINS is predicted to reach $3.5 trillion by 2028 by crypto research firm Messari.
