Framework Ventures Leads $10M Funding Round for Uplink

Framework Ventures leads $10M round for Uplink, founded by Carlos Lei Santos in 2016.

Framework Ventures led Carlos Lei Santos’s 2016-founded decentralized physical infrastructure network (Uplink) to a $10 million fundraising round.

DePINs are digital identification numbers that utilize blockchain technology to compensate communities for their roles in building various types of physical infrastructure networks.

Messari, a crypto research group, projects that the DePIN market will be worth $3.5 trillion by 2028, making it the next big thing in the cryptocurrency industry in 2024.

Uplink, unlike other DePIN networks, does not focus on retail distribution. A method that lead investor Framework Ventures is eager to witness in action, the statement states that the company will concentrate its initial distribution on partnerships with large enterprises.

“We believe that conglomerates that can actively assist in pushing fleet deployment will be our best bet for initial adoption in DePIN’s nascent stage,” stated Framework Ventures.

The onboarding process has already achieved significant milestones, according to the company. It has partnered with major telecom and mobility networks, such as E.ON, Deutsche Telekom, and Ericsson.

With its decentralized network connectivity, Uplink aims to lessen the need for traditional centralized telecom carriers. Enterprises can use the company’s platform to install appropriate gear for their communities or integrate their existing infrastructure into the Uplink network. 

In a press release on Thursday, Uplink announced that it will launch a token later this year and that more users will be able to access connectivity wherever Uplink offers coverage and flag areas of need where it does not. The company asserts that it will accomplish this by establishing financial incentives that motivate individuals to enhance their DePin-powered internet access.