Advanced Blockchain AG: Portfolio Company peaq Raises USD 20 Million Through Public Token Launch on CoinList

May 21, 2024 – Advanced Blockchain AG, a prominent incubator and investor in the blockchain sector, has announced a significant milestone for its portfolio company, peaq. Through a public token launch on the CoinList platform, peaq has successfully raised USD 20 million. The transaction was based on a USD 333 million valuation and involved 14,500 investors, with total contributions amounting to around USD 36 million.

peaq utilizes blockchain technology to create decentralized applications and real infrastructure projects. Notable projects within the peaq ecosystem include charge.xyz and farmsent.io, showcasing its role in transforming physical infrastructure through blockchain technology.

DePIN (Decentralized Physical Infrastructure Networks), the core of peaq's focus, is seen as a significant trend in the blockchain industry, with projections indicating its market value could reach USD 3.5 trillion by 2028. peaq already supports over 400,000 integrated devices, making it the fastest-growing DePIN ecosystem globally.

In March 2024, Advanced Blockchain AG had disclosed another successful funding round for peaq, raising USD 15 million in a Series A round led by Generative Ventures and Borderless Capital.

Simon Telian, CEO of Advanced Blockchain AG, remarked on these achievements as pivotal milestones, highlighting the tremendous potential of DePIN and the innovative path peaq is taking in decentralized infrastructure development.