CandleFocus Exclusive: 2 VanEck funds back Solana-based DePIN DAWN
2024-12-16
Author: Content Editor
Investment firm VanEck has invested $2.5m in DAWN, a project aimed at creating a decentralised internet service provider. The funding round marks the first time that multiple funds at VanEck have invested in the same company. DAWN, developed by Andrena, seeks to take advantage of the shift from wired to wireless internet connectivity, enabling users to share internet regardless of their provider. The funding will be used to scale retail engagement and expand internationally, with a focus on partnerships with data centres and internet service providers. VanEck Ventures said DAWN was not only economically competitive but also challenges the monopolistic nature of traditional service providers.
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