Satellite IM: Closes $10.5M in Seed Funding

August 5, 2022

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Satellite IM: Closes $10.5M in Seed Funding

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Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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)