Three Blockchain Innovators Secure Significant Venture Capital, Signaling Renewed Investor Interest in Web3 Sector

Peaq, Midas, and BOB, three blockchain specialists, have recently secured substantial venture capital funding, indicating a potential resurgence of investor enthusiasm in the web3 sector.

Peaq, a layer-1 blockchain tailored for decentralized physical infrastructure networks (DePINs), announced a successful Series A funding round on March 27, raising $15 million. Generative Ventures and Borderless Capital led the investment, with notable contributions from Spartan Group, HV Capital, CMCC Global, and Animoca Brands. With a mission to establish an "Economy of Things" network, Peaq aims to decentralize physical infrastructure and systems, offering a permissionless and borderless digital infrastructure for intelligent machines. The platform provides backend functions for app builders, including access management, AI agents, and device data verification. Peaq plans to utilize the raised funds to expand its ecosystem, which currently hosts over 20 DePINs across various industries.

Midas, led by CEO Dennis Dinkelmeyer, secured $8.75 million in funding to develop a protocol for issuing real-world assets as ERC-20 tokens. The funding, led by Framework Ventures and BlockTower, will support Midas's expansion and the enhancement of its asset tokenization protocol. Additionally, Midas will introduce mTBILL, a stablecoin enabling users to earn yield from U.S. Treasury bills on-chain, potentially disrupting the stablecoin industry.

BOB, a hybrid layer-2 network known as Build on Bitcoin, raised $10 million in seed funding, spearheaded by Castle Island Ventures. Mechanism Ventures, Bankless Ventures, and notable angel investors Dan Held and Domo also participated. BOB, led by co-founder Alexei Zamyatin, aims to introduce the first Bitcoin L2 solution with Ethereum Virtual Machine (EVM) compatibility. The London-based company is set to launch its Fusion program, offering early access to its platform, on March 27.

The successful funding rounds for Peaq, Midas, and BOB reflect growing investor confidence in the potential of blockchain technology for real-world applications and asset tokenization, highlighting the continued evolution of the web3 ecosystem.