Ambient Raises $2 Million to Scale DePIN Globally

Published on: 10.05.2024
Ambient Raises $2 Million to Scale DePIN Globally

Ambient raises $2 million funding round marks a pivotal moment in its mission to scale DePIN globally.

Ambient, the world’s largest decentralized network of environmental sensors and ambient data, has announced the successful closure of an oversubscribed $2 million seed funding round. This round, led by Borderless Capital, with participation from Solana Ventures, Parami Investors, Sonic Boom Ventures, and Primal Capital, among others, signals a significant milestone in Ambient’s journey.

Meeting Environmental Challenges with Data-driven Solutions

Accurate data plays a crucial role in addressing the challenges of climate change and air pollution, the leading environmental cause of illness and premature death. While the demand for detailed environmental monitoring is projected to reach $40 billion by 2030, there is a significant scarcity of real-time and localized data available worldwide. Utilizing the DePIN model, Ambient has emerged as the fastest-growing, decentralized network of climate and ambient sensors across more than 20 countries, providing real-time data feeds every 5 minutes.

“Ambient is positioned to become an indispensable resource as global citizens increasingly seek to understand their environmental conditions and organizations require more accurate data for strategic decisions,” noted Luca Franchi, Ambient’s co-founder and CEO. With support from industry leaders, Ambient aims to drive environmental sustainability and positive impact on a global scale.

Strategic Expansion and Diverse Applications of Ambient’s Data

Ambient plans to expand its reach and establish strategic partnerships, enhancing its business model and extending its market footprint. With over 25,000 sensors deployed across more than 20 countries, and generating upwards of 10.7 billion data streams, Ambient’s data serves multiple use cases, including monitoring air quality impacts, aiding sustainable development, improving insurance processes, managing health risks, and enhancing marketing decisions.

About Ambient

Ambient is at the leading edge of decentralized environmental monitoring, harnessing the power of its vast sensor network to deliver real-time, actionable environmental data. By utilizing distributed technologies and a community-focused participation model, Ambient not only enhances environmental awareness but also drives impactful change across the globe. Ambient Network is operated by the Cayman Foundation company bearing its name, dedicated to the decentralization, adoption, and security of the network.

About Borderless

Borderless is a leading investment management firm focused on Web3 technology, dedicated to supporting the next generation of innovators who are driving the development of groundbreaking technologies that will enable the creation of value without borders. Borderless comprises a team of builders, partners, and investors who adopt a long-term perspective and strive to unleash the full potential of open, community-driven networks. Since 2018, Borderless has invested in 200+ protocols/companies across infrastructure, business applications, and nascent cryptographic protocols, and has played an integral role in the development of some of the most significant and innovative Web3 communities. Borderless has been a pioneer in DePIN, launching the first dedicated fund in 2021 and investing in over 35 DePIN projects since then.

SOURCE

https://medium.ambient.network/ambient-secures-2-million-to-scale-up-depin-for-environmental-monitoring-globally-eb5c0369ceff

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