# Network3

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/network3

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.network3.io
- Total disclosed funding: $5.5M
- Latest round: Seed (Jul 23, 2024)
- Investors on record: 6

## About

Founded in 2015 and based in San Francisco, US, Network3 focuses on developing innovative solutions for the integration of blockchain technology with IoT. In July 2024, the company successfully raised USD 5.5 mn in a Seed funding round led by Bing Ventures, Borderless Capital, IoTex, SNZ Capital, Waterdrip Capital, and ev3. 

Network3 offers a comprehensive platform that supports Decentralized Physical Infrastructure Networks (DePIN). This platform enables cryptocurrency transactions via applications, employing smart contracts for secure interactions. Key offerings include cross-chain infrastructure for Web 3.0, AI-driven customer insights tools, and a decentralized GPU network for visual computing. Its products cater to various sectors, such as finance and automotive, with a market presence in North America, Europe, and parts of Asia.

Network3 generates revenue through a mix of service subscriptions, transaction fees, and partnerships. The revenue model capitalizes on the usage of the platform's services, including AI data analysis and blockchain integration, reinforced by the Network3 token as a utility within its ecosystem.

Following the recent fundraising round in July 2024, Network3 aims to enhance its artificial intelligence capabilities. The company is planning the launch of new products that focus on improving its IoT and blockchain integration technologies. Furthermore, expansion into new markets, particularly in Europe and parts of Asia, is anticipated by late 2025, facilitating broader adoption of its services.

## Funding rounds

- Seed, Jul 23, 2024, $5.5M — ev3, Borderless Capital, SNZ Capital, Waterdrip Capital, IoTex, Bing Ventures

## Investors

- ev3 — Seed
- Borderless Capital (https://capitalatlas.ai/funds/borderless-capital) — Seed
- SNZ Capital (https://capitalatlas.ai/funds/snz-capital) — Seed
- Waterdrip Capital (https://capitalatlas.ai/funds/waterdrip-capital) — Seed
- IoTex — Seed
- Bing Ventures (https://capitalatlas.ai/funds/bing-ventures) — Seed