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PlanetWatch Raises 3 Million Euros in Funding
PlanetWatch, a CERN spin-off, has raised three million euros through a Simple Agreement for Future Equity (SAFE) and bank loans. This is reported in a press release on PlanetWatch's website.
The funds will be used to strengthen the company's technical infrastructure, grow its air quality monitoring network, and boost business development initiatives.
Big things on the horizon! Our latest 3M #fundraising will be used to take @PlanetWatchsas to the next level. Stay tuned for updates on the new features and improvements! $planet #algofam $Algo @FolksFinance @tinymanorg @PeraAlgoWallet @HumbleDefi 🔥🚀 2023 will be a great year! https://t.co/nkeg5crgbY pic.twitter.com/o3tO7wjGIG
— Merlin M. Ostermann (@MMO_Planetwatch) January 26, 2023
Funding By Borderless Capital, Algorand Foundation
The round of funding was led by Borderless Capital, but also included some additional big-name investors such as Algorand Inc. and the Algorand Foundation.
“We are honored that key entities from the Algorand ecosystem, as well as major French banks, continue to support PlanetWatch development,” said Claudio Parrinello, co-founder and CEO of PlanetWatch.
PlanetWatch's strong roadmap for 2023 includes smart contracts for air quality data sales and the transition to a Web3 business model. The company is being endorsed as a real-world blockchain project with a compelling use case and capable of closing deals with both companies and governmental entities.
