Peaq offers layer-1 blockchain infrastructure that enables businesses to build and deploy decentralized applications and physical infrastructure networks. Users can tokenize hardware such as machines, vehicles and devices for a wide range of use cases, such as machine IDs, role-based access control, payments, and data storage and indexing.
The company provides users with pre-built network functions and a software development kit to deploy their applications without needing to purchase and run their own equipment. Additionally, the company leverages elastic scaling technology to offer 100,000 transactions per second (TPS).
Key customers and partnerships
As of March 2024, the company supported an ecosystem of over 20 decentralized physical networks (DePINs), which included projects like FLOOP, 2blox, Silencio Network, and Penomo, among others. At the same time, the company also served a number of large enterprise clients, such as Bosche, Airbus, NTT, Continental, and Fraunhofer.
Funding and financials
In March 2024, Peaq secured USD 15 million in new funding led by Generative Ventures and Borderless Capital to expand its ecosystem of DePINs and further develop its modular DePIN Functions and software development kit. The company also planned to launch its mainnet launch and list its PEAQ token.
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.