Ambient Secures $2 Million to Scale Up DePIN for Environmental Monitoring Globally
London, UK, May 7th, 2024, Chainwire
With New Investment Round Led by Borderless Capital, The Environmental Data DePin, Eyes Solana Launch and Global Market Expansion
Ambient, the world’s largest decentralized network of environmental sensors and ambient data, today announced the successful closure of an oversubscribed $2 million seed funding round. This round was led by Borderless Capital, with participation from Solana Ventures, Parami Investors, Sonic Boom Ventures, and Primal Capital, among others.
Accurate data is crucial for addressing the challenges of climate change and air pollution, which is the leading environmental cause of illness and premature death. And while the demand for detailed environmental monitoring is projected to reach $40 billion by 2030, there is a tremendous scarcity of real-time and localized data available for a majority of the world. Using the DePIN model, Ambient has become the fastest growing, decentralized network of climate and ambient sensors across more than 20 countries with real-time data feeds every 5 minutes.
“Ambient is positioned to become an indispensable resource as global citizens increasingly seek to understand their environmental conditions and organizations require more accurate data for strategic decisions. Supported by industry leaders, our network of distributed and incentivized sensors drives environmental sustainability and positive impact at a global scale,” said Luca Franchi, Ambient co-founder and CEO.
Ambient plans to broaden its reach and forge strategic partnerships, enhancing its business model and extending its market footprint. The network, which includes over 25,000 sensors across more than 20 countries, and has generated upwards of 10.7 billion data streams. Ambient data can serve multiple use cases, including, and not limited to:
- Monitoring air quality impact of weather changes, wildfires, industrial activities
- Aiding in the development of sustainable buildings and smart cities
- Improving insurance underwriting processes
- Managing health risks more effectively
- Enhancing marketing and advertising decisions through climate-driven data
- Addressing essential considerations in banking and financial sectors
“It is hard to imagine how we will scale fast enough to meet the demands for collecting reliable environmental data without innovative DePIN-aligned networks like Ambient. While some solutions leverage ML-based models to simulate air quality and other ambient information, there is no substitute for more local, real-time data collection. Ambient is demonstrating how it can achieve this globally via shared ownership and built-in economic rewards,” said Alpen Sheth, Partner, Borderless Capital.
Ambient’s impending launch on Solana, a leading blockchain platform known for supporting scalable decentralized projects, will introduce enhanced token economics and governance models to incentivize and reward community contributions.
Ambient’s reimagined platform will allow individuals to join the network, deploy sensors, and even use their smartphones to monitor and report environmental data and earn rewards.
To access Ambient’s data stream API, users can visit https://ambient.network/data
About Ambient
Ambient is at the leading edge of decentralized environmental monitoring, harnessing the power of its vast sensor network to deliver real-time, actionable environmental data. By utilizing distributed technologies and a community-focused participation model, Ambient not only enhances environmental awareness but also drives impactful change across the globe. Ambient Network is operated by the Cayman Foundation company bearing its name, dedicated to the decentralization, adoption, and security of the network.
About Borderless
Borderless is a leading investment management firm focused on Web3 technology, dedicated to supporting the next generation of innovators who are driving the development of groundbreaking technologies that will enable the creation of value without borders. Borderless comprises a team of builders, partners, and investors who adopt a long-term perspective and strive to unleash the full potential of open, community-driven networks. Since 2018, Borderless has invested in 200+ protocols/companies across infrastructure, business applications, and nascent cryptographic protocols, and has played an integral role in the development of some of the most significant and innovative Web3 communities. Borderless has been a pioneer in DePIN, launching the first dedicated fund in 2021 and investing in over 35 DePIN projects since then. For more information, users can visit their website at: www.borderlesscapital.io
