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July 25, 2024 – Multiple Network (MTP_Network), a pioneering platform enabling users to monetize their internet connections, today announced the successful close of its $2 million Seed funding round, achieving a $30 million valuation. This significant investment marks a pivotal moment for Multiple Network as it accelerates its mission to build and expand the Decentralized Physical Infrastructure Network (DePIN) ecosystem.
The round saw strong participation from a consortium of leading blockchain and Web3 investors, including OKX Ventures, Youbi Capital, Stratified Capital, Puzzle Ventures, Catcher VC, Bitrise Capital, and several other strategic partners. This robust backing underscores the growing confidence in Multiple Network’s innovative approach to democratizing internet access and rewarding users for their unused bandwidth.
"We are incredibly thrilled to have completed this $2 million seed round with the support of such esteemed investors," said a spokesperson for Multiple Network. "This funding is not just a financial injection; it's a powerful validation of our vision for a more equitable and efficient internet. It signifies a major step forward for Multiple Network within the rapidly evolving DePIN landscape, allowing us to enhance our platform and deliver even greater value to our global community."
Multiple Network is at the forefront of the DePIN movement, which leverages blockchain technology to incentivize the creation and maintenance of decentralized physical infrastructure. By allowing individuals to share their excess internet bandwidth, Multiple Network creates a distributed network that benefits both providers and consumers. This model not only offers a passive income stream for users but also contributes to a more resilient, accessible, and censorship-resistant internet infrastructure.
The newly secured capital will be strategically deployed to fuel Multiple Network's ambitious growth plans. Key areas of investment include:
- Product Development: Enhancing the core platform with new features, improved user experience, and expanded monetization opportunities for internet connection providers.
- Ecosystem Expansion: Fostering partnerships and integrations within the broader DePIN and Web3 space to increase network utility and reach.
- Research & Development: Investing in cutting-edge technologies to ensure the network's scalability, security, and efficiency.
- Talent Acquisition: Growing the team with top-tier engineering, product, and community-focused professionals to drive innovation and support the expanding user base.
Multiple Network is committed to empowering individuals to take control of their digital resources and contribute to a truly decentralized future. By turning idle internet capacity into a valuable asset, the platform is poised to redefine how internet infrastructure is built and utilized globally.
About Multiple Network:
Multiple Network (MTP_Network) is a pioneering DePIN platform that enables users to monetize their unused internet connection bandwidth. By creating a decentralized network of shared resources, Multiple Network aims to build a more efficient, accessible, and resilient internet infrastructure, rewarding individuals for their contributions to the ecosystem.About OKX Ventures:
OKX Ventures is the investment arm of OKX, a leading global cryptocurrency exchange. It focuses on exploring the best blockchain projects globally, supporting cutting-edge innovation, and promoting the sustainable development of the blockchain industry.About Youbi Capital:
Youbi Capital is a venture capital firm focused on investing in blockchain technology and digital assets, with a strong emphasis on projects that drive innovation and adoption in the decentralized economy.About Stratified Capital:
Stratified Capital is an investment firm dedicated to supporting early-stage projects in the blockchain and Web3 space, with a focus on foundational infrastructure and disruptive applications.About Puzzle Ventures:
Puzzle Ventures is a venture capital firm that invests in promising blockchain and cryptocurrency startups, aiming to support the next generation of decentralized technologies.About Catcher VC:
Catcher VC is an investment fund focused on strategic investments in the blockchain and crypto industry, backing innovative projects with high growth potential.About Bitrise Capital:
Bitrise Capital is a venture capital firm that invests in early-stage blockchain and Web3 projects, providing strategic support and resources to help them grow.Compiled by CMO Intern team
