Advanced Blockchain AG: Portfolio Company peaq Raises $15 Million in Pre-Launch Funding

Advanced Blockchain AG, a prominent incubator and investor in blockchain technology, has announced that its portfolio company peaq has raised $15 million in a pre-launch funding round. The round was led by Generative Ventures and Borderless Capital. This significant financial boost is aimed at expanding peaq’s ecosystem, which includes over 20 decentralized physical networks (DePINs), and facilitating the launch of its mainnet.

The funding will primarily support the development of peaq’s Modular DePIN functions and Software Development Kit (SDK). This enhancement is expected to enable DePIN projects to build and deploy their applications on peaq more efficiently. Projects currently utilizing peaq's platform include Silencio, ELOOP, and Wingbits, offering diverse applications from noise pollution measurement to tokenized car-sharing and community-run antenna networks.

Market analysts predict that the DePIN sector could potentially reach a market value of $3.5 trillion by 2028. Advanced Blockchain AG holds a significant stake in EoT Labs, owning 37% equity, and more than 2% of PEAQ-token, further solidifying its position in the emerging DePIN market. CEO Simon Telian expressed optimism regarding the funding, anticipating it will contribute positively to both peaq’s development and Advanced Blockchain’s investment portfolio.