Satellite IM, Boston, MA-based provider of a decentralized peer-to-peer communications platform, raised $10.5M in Seed funding.
The round was led by Multicoin Venture Fund and Framework Ventures, with participation from Hashed Venture Fund, IDEO CoLab, Solana Ventures, and Pioneer Square Ventures Fund.
The company intend sto use the funds to accelerate growth and expand operations.
Led by CEO Matthew Wisniewski, Satellite IM is a Web3fully decentralized peer-to-peer voice, video, and text communication platform. It is built as an EVM-compatible evolving protocol for simple sovereign storage and peer-to-peer communication, leveraging the interplanetary filesystem (IPFS). The platform allows users to sign, encrypt, broadcast, search, and store documents or messages with decentralized identifiers (DIDs), all while making the need for an existing wallet or on-chain data completely optional.
Its initial core desktop application, Satellite IM, supports 4K video chat and streaming, lossless audio, and 4GB sharing capabilities, at no cost to the user. Satellite IM’s mobile-native application, Uplink, is scheduled to be released in the Fall of 2022.
FinSMEs
11/08/2022