DePHY, a DePIN infrastructure startup, has completed a seed round of funding worth millions of dollars, with participation from Blockchain Builders Fund and others.

BlockBeats news, on February 16th, according to The Block, DePHY, an infrastructure startup company for DePIN, completed a seed round of funding worth millions of dollars with a valuation of $40 million. Participating investors include Blockchain Builders Fund, Foresight Ventures, IoTeX, Paramita, FutureMoneyGroup, Waterdrip Capital, DefinanceX, PAKA, and Candaq Fintech Group. DePHY is an integrated DePIN framework that significantly reduces the cost and time associated with DePIN project development.