Uplink, a NYC-based company focused on democratizing Internet access, raised $10M in funding.
Backers included Framework Ventures (leader), Blockchange, Stratos, Mustard Seed Maze, and Outlier Ventures.
The company intends to use the funds to expand its operations and development efforts.
Led by CEO Carlos Lei, Uplink provides decentralized physical infrastructure network (“DePIN”) tools and solutions that ensure connectivity is accessible to all, individuals and businesses alike. The Uplink system is a practical application of DePIN principles, addressing the complexities of contemporary network connectivity by creating a self-sustained and infinitely scalable system that decentralizes both operational responsibilities and financial incentives across a broad spectrum of participants. By allowing both individuals and businesses alike to become a Provider and directly benefit from installing hardware and expanding the network’s reach, the system is self-replicable and infinitely expandable. This allows for optimal uptime and cost effective coverage as well as makes it possible for demand to dictate tailor-made networks.
Uplink collaborated with incumbent internet industry giants, such as Ericsson, as well as with global utility leaders including Deutsche Telekom, EDP Portugal, and E.ON.
Commenting on the news, Carlos Lei said: “The internet is one of the most important inventions in modern human history, and current network infrastructure deployment simply isn’t sustainable as we try to connect well over a billion devices and counting. By combining hardware and Web3 technologies, Uplink creates entirely new free market incentives and opportunities that we believe will massively increase and democratize access to the internet. This is the perfect use-case for decentralization.”
FinSMEs
11/04/2024