DePIN project WeatherXM Network completes $7.7 million Series A financing, led by Lightspeed Faction

Decentralized Physical Infrastructure Network (DePIN) WeatherXM Network has completed a $7.7 million Series A funding round, led by Lightspeed Faction and with participation from Protocol Labs, Borderless Capital, Arca, Alumni Ventures, Placeholder VC, Red Beard Ventures, Metaplanet, GS Futures, Consensys Mesh, Westerly Ventures, dlab, Eleftherios Diakomichalis, and Juan Benet. The company plans to use this investment to develop its team and network, and continue researching and developing weather hardware and decentralized infrastructure that supports encryption. WeatherXM has deployed over 5,000 stations in more than 80 countries/regions, producing a variety of weather station hardware devices that collect local environmental data, and collaborating to build a unique ground sensor weather network. Participants who operate special low-cost, low-maintenance stations will receive ERC20 $WXM tokens as rewards, which are native governance and utility tokens for the WeatherXM network association. On the same day, station owners will be able to start collecting daily rewards and accumulating test rewards on the Arbitrum mainnet.