Spexi Raises $11.5 Million in Series A for Drone Imagery DePIN
Two significant funding rounds were announced this week. The first was by Spexi, a decentralized physical infrastructure network (DePIN) focused on drone imagery.
Spexi raised $11.5 million in a Series A round led by Blockchange Ventures, following a seed round two years prior. Founded in 2017, Spexi developed a blockchain-based “Fly to Earn” network aimed at enhancing the aerial imagery industry. The company aims to create a scalable global network of drone pilots to provide data-rich imagery to both public and private sectors with minimal emissions.
CEO Bill Lakeland stated that Spexi supports government and emergency services cost-effectively while advancing AI and metaverse technologies globally. The company's dataset is utilized for training AI models.
Blockchange’s Ken Seiff noted that Spexi combines affordable drone imagery with blockchain technology to ensure image integrity, creating new markets in various sectors including geospatial, insurance, AI, and gaming.
Union Labs raised $12 million in a Series A round led by Gumi Cryptos Capital and Long Hash Capital, bringing its total capital raised to $16 million. Union Labs operates a cross-chain protocol facilitating communication between blockchains. Its consensus verification model allows independence from centralized entities, supporting any ecosystem or asset with minimal trust dependencies. This architecture enables subsecond transfer times between chains.
Other Notable Funding News:
- Brighty raised $10 million, led by Futurecraft Ventures.
- Yuga Labs acquired Tokenproof’s tech team for an undisclosed amount.
- Avant raised $6.5 million in a seed funding round, with investments from Avalanche and Superlayer.
- Fiamma announced a $4 million seed round led by Faction and L2 Iterative Ventures.
- Sekai raised $3.1 million in a seed round led by Hashed.