$9 Million Seed Funding for Vangrid's Decentralized Data Network

Vangrid, a decentralized physical infrastructure network (DePIN) project, has raised $9 million in seed funding. The round was led by notable investors including HashKey, Borderless Capital, Crypto.com, Animoca Brands, Gate Labs, and Mapleblock Capital.

The funds will be directed toward expanding Vangrid's data network and broadening partnerships in AI infrastructure. The company's model leverages smartphone sensors to gather spatial data, which is then verified on-chain, creating a transparent and incentivized ecosystem for data contribution.

Vangrid plans to launch its native token in the second half of this year, introducing a rewards mechanism to incentivize participants. This aligns with common DePIN practices, where contributors are compensated for providing physical infrastructure or data.