According to official news, recently, Parasail Protocol, which focuses on improving the security of DePIN hardware services, announced the completion of a $4 million seed round of financing, with a valuation of $50 million. The seed round of financing was led by Protocol Labs, and D11 Labs, MH Ventures, BitRise Capital, EV3, Fenbushi Capital, Modular Capital, Faculty Group, DWF Ventures, Foresight Ventures, AGE Crypto, Waterdrip Capital and others participated.
According to the Parasail team, the financing funds will be used to accelerate the implementation of various product functions in the Parasail Master Plan, that is, to pool assets and hardware on DePIN, provide users with service level guarantees, and dynamically coordinate hardware resources according to demand. It is reported that Parasail TVL exceeds $50 million.
In addition to providing security for hardware services through asset delegation, Parasail is building a universal adapter for hardware service provision and verification to enable the flexible use and circulation of universal hardware resources (such as graphics cards, storage, sensors, etc.) in different DePIN ecosystems. With the help of the Parasail protocol, the DePIN project can systematically and efficiently build its network and mobilize hardware resources.