Parasail Completes $4 Million Seed Round at $50 Million Valuation, Led by Protocol Labs

Odaily News According to official news, recently, Parasail Protocol, which focuses on improving the security of DePIN hardware services, announced the completion of a $4 million seed round of financing, with a valuation of $50 million. The seed round of financing was led by Protocol Labs, and D11 Labs, MH Ventures, BitRise Capital, EV3, Fenbushi Capital, Modular Capital, Faculty Group, DWF Ventures, Foresight Ventures, AGE Crypto, Waterdrip Capital and others participated. According to the Parasail team, the financing funds will be used to accelerate the realization of various product functions in the Parasail Master Plan, that is, to pool assets and hardware on DePIN, provide users with service level guarantees, and dynamically coordinate hardware resources according to demand. It is reported that Parasail TVL exceeds 50 million US dollars.