PlanetWatch, Saint Genis Pouilly, France-based company developing a decentralized air quality monitoring network, raised €3M in funding.
The funding was raised via a Simple Agreement for Future Equity (SAFE) complemented by bank loans. The round, bridging between a Seed one and a future Series A, was led by Borderless Capital. Additional investors include Algorand Inc. and the Algorand Foundation.
The company intends to use the funds to strengthening the technical infrastructure, growing the air quality monitoring network, and boosting business development initiatives.
Led by CEO Claudio Parrinello, PlanetWatch is leveraging the Algorand blockchain, advanced algorithms, and high-performance air quality sensors, to deploy dense, low-cost air quality monitoring networks. The company’s network, which has over 20,000 sensors currently active worldwide, powers advanced data products both for governmental and private sector entities, while building global immutable air quality data ledger.
An official CERN spin-off company, PlanetWatch is also a member of the Crypto Sustainability Coalition fostered by the World Economic Forum.
FinSMEs
27/01/2023