Midas BOB and eaq all secure their positions

Three blockchain experts secured funding from venture capitalists this week, signaling a potential resurgence of interest in the web3 industry.
Peaq
On March 27th, Peaq, a layer-1 (L1) blockchain tailored for decentralized physical infrastructure networks (DePINs), announced a successful Series A funding round, raising $15 million. Generative Ventures and Borderless Capital led the investment, along with participation from distinguished investors such as Spartan Group, HV Capital, CMCC Global, and Animoca Brands. Peaq’s goal is to establish an “Economy of Things” network by decentralizing physical infrastructure and systems, providing a permissionless and borderless digital infrastructure for advanced machines. The platform offers various backend features for app developers, including access management, AI agents, and device data verification. Additionally, Peaq’s ecosystem includes supporting tools like a machine platform and a decentralized physical infrastructure network accelerator, developed in partnership with Outlier Ventures. The raised funds will be used to expand Peaq’s ecosystem, which already includes over 20 DePINs spanning industries like mobility, energy, connectivity, environment, agriculture, and digital infrastructure.
Midas
Midas secured $8.75 million in funding for its protocol that tokenizes real-world assets as ERC-20 tokens. Led by CEO Dennis Dinkelmeyer, the company’s funding round was backed by Framework Ventures and BlockTower, aiming to support Midas’s growth and the enhancement of its asset tokenization protocol. Midas will introduce mTBILL, a stablecoin designed to enable users to earn yield from U.S. Treasury bills on-chain. The company believes this move could disrupt the stablecoin industry, particularly during a non-zero interest rate period. Dennis Dinkelmeyer emphasized Midas’s dedication to innovation, expressing confidence in the company’s ability to provide investors with innovative products that keep capital, especially stable capital, on-chain through yield-bearing tokens while leveraging relevant DeFi applications.
Peaq and Midas are both headquartered in Berlin, showcasing the increasing investor confidence in blockchain technology for tangible applications and asset tokenization.
Bob
In a separate development, Build on Bitcoin (BOB), a hybrid layer-2 network, secured $10 million in seed funding. Castle Island Ventures led the funding round, with support from Mechanism Ventures, Bankless Ventures, and notable angel investors like Dan Held and Domo, the creator of the BRC-20 token standard. Co-founded by Alexei Zamyatin, BOB aims to introduce the first Bitcoin L2 solution with Ethereum Virtual Machine (EVM) compatibility. The London-based company is preparing to launch its Fusion program on March 27th, offering early access to its platform for participants. This funding underscores the growing interest in blockchain technology and innovative solutions for real-world applications and asset tokenization.