Future

2024

Uniswap

WeatherXM AG, the weather-focused decentralized physical infrastructure network (DePIN) startup, has successfully raised $7.7 million in a Series A funding round led by Lightspeed Faction.&nbsp; 
This round also saw participation from prominent investors including Protocol Labs, Borderless Capital, Arca, Alumni Ventures, Placeholder VC, Red Beard Ventures, Metaplanet, and others. This funding aims to boost WeatherXM’s efforts in developing crypto-enabled hardware and improving its data quality and forecasting algorithms. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Wen Mainnet? Get ready, <a href="https://twitter.com/search?q=%24WXM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WXM</a> is officially going live on May 30th! 🚀 We've successfully closed Series A, led by Lightspeed <a href="https://twitter.com/FactionVC?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@FactionVC</a>, to build the largest weather network. – Mainnet – Exchange Listing – Series A Funding – Next Big Steps Read more 👇🏼<a href="https://t.co/ZfkDDvktwK" target="_blank">https://t.co/ZfkDDvktwK</a> <a href="https://t.co/ULr6sHj3q8" target="_blank">pic.twitter.com/ULr6sHj3q8</a>— WeatherXM (@WeatherXM) <a href="https://twitter.com/WeatherXM/status/1793266636083908669?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 22, 2024</a>
 </blockquote> 
 </div>
</figure> 
Expansion and Development Plans 
Manolis Nikiforakis, WeatherXM’s co-founder and CEO, stated that the funds will be used to further develop the company’s crypto-enabled weather station hardware and enhance data accuracy.&nbsp; 
The company also plans to onboard third-party manufacturers to expand its network and decentralize operations further. WeatherXM’s weather stations collect environmental data, which is then stored on the decentralized storage blockchain Filecoin, providing hyper-local weather forecasts. 
The WeatherXM network incentivizes station operators by rewarding them with the platform’s native ERC-20 token, WXM. These tokens will become tradable on platforms such as Uniswap v3 starting May 30. Users can also earn Arbitrum-based daily rewards and accumulated beta rewards from the same date. 
Future Goals and Market Reach 
Nikiforakis emphasized the company’s ambition to become the largest weather station network globally by the end of 2025. WeatherXM stations, which measure various environmental parameters, range in price from $400 to $900.&nbsp; 
The company has already deployed 5,000 of its 7,000 sold units across 80 countries, demonstrating its market reach and operational capability. 
WeatherXM’s successful funding round reflects growing investor confidence in the potential of decentralized infrastructure networks. With ambitious expansion plans and a focus on innovative technology, WeatherXM is poised to make strides in the global weather data market. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also read: <a href="https://www.cryptotimes.io/2024/05/22/xrpl-grants-wave-7-funding-7-projects-boosting-xrpl-ecosystem/" target="_blank" rel="noreferrer noopener">XRPL Grants Wave 7: Funding 7 Projects, Boosting XRPL Ecosystem</a> 
</blockquote>

WeatherXM Secures $7.7M Series A Funding Led by Lightspeed Faction

The Crypto Times

2024년 5월 22일에 게재된 다른 기사

Tech Giants Join Forces to Combat Scams

KIP Protocol Partnership with Ultiverse

Donald Trump Presidential Campaign Now Accepts Bitcoin, Shiba Inu, XRP, Solana, Ethereum and Doge...

Joe Lubin Teases Plan To Take ConsenSys Mainstream, What’s Next?

Massive 142,000 Ethereum Shuffled in and out of Exchanges

BTC Price Dips Down to $69K on Bitcoin Pizza Day!

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!