Solana DePIN Project Raises $18M To Build Decentralized Internet

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Andrena, a Solana-based decentralized physical infrastructure network (DePIN) project and wireless internet provider has secured $18 million in a Series A extension round led by Dragonfly, with participation from CMT Digital, Castle Island Ventures, and Wintermute Ventures.

The investment round for DAWN was structured as a simple agreement for future equity (SAFE) with token warrants, bringing Andrena’s total funding to $38 million. This round follows a $15 million Series A round announced in February 2023, in which Dragonfly was also the lead investor.

We’re thrilled to announce our $18M raise led by @dragonfly_xyz!

Thank you to our investors @6thManVentures, @wintermute_t @paraficapital @robotventures @EV3ventures among others. (