Hivello Expands Funding Round to $2.5M Due to High Demand

In what seems like a testament to the project’s future success, Hivello has increased the size of its most recent funding round to $2.5 million - an increase of some $1.5 million.

"The incredible surge in demand we've seen from investors confirms the pressing need for accessible decentralized infrastructure… We are honored by the commitment shown by both new and returning investors who share our vision for the future of DePIN.", said Hivello founder, Dom Carosa.

What is perhaps more impressive is that the full $2.5 million sum was raised by Hivello in the last four weeks alone.

The round’s extension saw a host of top-tier Web3 investors join Hivello’s cap table. These include, but are not limited to…

• MH Ventures
• Cypher Capital
• Primal Capital
• Contango Digital Assets

… and others. These investors join previously participating parties such as Blockchain Founders Fund, IDG, and NGC, who were already involved in the funding round.

"Hivello more than doubling their round in only 4 weeks is a testament to the strength of their team and mission - it's great to see other big-name investors backing this innovative company," said partner at Blockchain Founders Fund, Tobias Bauer.

What is Hivello?

Hivello is a cutting edge blockchain project building within the fast-growing decentralized physical infrastructure network (DePIN) sector.

By downloading Hivello’s application, users can earn blockchain-based rewards for actions as simple as interacting with a host of popular blockchain networks, apps and protocols. Before Hivello’s offering, most users were locked out of earning passive crypto income via mining, due to the high level of technical infrastructure and understanding required.

The project is already integrated with several leading blockchain projects, including Helium and Function Land. 

Hivello is founded by the founder and chairman of leading crypto payments company, Banxa. He is also the founder of top-tier cryptocurrency venture fund, Apollo Crypto.

To learn more about Hivello and its developments, make sure to visit the project’s official website and follow @HivelloOfficial on X/Twitter.