Midas and BOB Successfully Secure Eaq
Three blockchain experts secured venture capital this week, suggesting that investors are once again showing interest in the web3 sector.
Peaq, a layer-1 blockchain designed for decentralized physical infrastructure networks (DePINs), announced a successful Series A funding round, raising $15 million. Generative Ventures and Borderless Capital led the effort, with participation from investors such as Spartan Group, HV Capital, CMCC Global, and Animoca Brands. Peaq aims to decentralize physical infrastructure and systems, providing a permissionless and borderless digital infrastructure for intelligent machines. The platform offers backend functions for app builders and supporting tools like a machine platform and a decentralized physical infrastructure network accelerator.
Midas, led by CEO Dennis Dinkelmeyer, raised $8.75 million in funding. The firm is developing a protocol that issues real-world assets as ERC-20 tokens. Framework Ventures and BlockTower spearheaded the funding round, which will support Midas’s expansion efforts and the development of its asset tokenization protocol. Midas also plans to introduce mTBILL, a stablecoin that allows users to earn yield from U.S. Treasury bills on-chain. The company believes that launching a stablecoin during a non-zero interest rate period could disrupt the stablecoin industry.
Both Peaq and Midas are based in Berlin, and their ability to attract funding reflects growing investor confidence in the potential of blockchain technology for real-world applications and asset tokenization.
In a separate development, Build on Bitcoin (BOB), a hybrid layer-2 network, raised $10 million in seed funding. Castle Island Ventures spearheaded the funding round, with participation from Mechanism Ventures, Bankless Ventures, and notable angel investors Dan Held and Domo. BOB aims to introduce the first Bitcoin L2 solution with Ethereum Virtual Machine (EVM) compatibility. The London-based company is also preparing to launch its Fusion program, offering early access to its platform.
Overall, these funding successes demonstrate the increasing investor confidence in blockchain technology and its potential for practical applications and asset tokenization.
