Satellite IM: Closes $10.5M in Seed Funding

Satellite IM Closes $10.5M in Seed Funding

• Satellite IM, Boston, MA-based provider of a decentralized peer-to-peer communications platform, raised $10.5M in Seed funding
• The round was led by Multicoin Venture Fund and Framework Ventures, with participation from Hashed Venture Fund, IDEO CoLab, Solana Ventures, and Pioneer Square Ventures Fund
• The company intend sto use the funds to accelerate growth and expand operations
• SatelliteIM is a Web3fully decentralized peer-to-peer voice, video, and text communication platform
• It is built as an EVM-compatible evolving protocol for simple sovereign storage and peer-to-peer communication, leveraging the interplanetary filesystem (IPFS)