DePHY, a DePIN infrastructure startup, has recently completed a seed funding round, achieving a $40 million valuation and amassing several million dollars in investment.

This financial milestone drew support from a varied group of venture capital firms, such as Blockchain Builders Fund, Foresight Ventures, IoTeX, Paramita, FutureMoneyGroup, Waterdrip Capital, DefinanceX, PAKA and Candaq Fintech Group. Additionally, DePHY is currently participating in the Stanford Blockchain Accelerator and DePIN Surf Accelerator.