U2U Network a DePIN project secures seed funding with IDG Blockchain leading the investment

The decentralized physical infrastructure network (DePIN) project U2U Network has announced the completion of its seed round financing, with IDG Blockchain leading the investment. Other participating institutions include dappOS, Pontem, Lumoz, ZkEX, Avalon, Catalyst, and Grindery. The specific amount of this round of financing was not disclosed, but it is said to have reached a “seven-figure” sum. U2U Network is building a Layer 1 blockchain network based on subnet technology, with each U2U subnet operating independently of the main network. This means that even if the U2U main network goes down, the subnets can continue to operate without interruption. U2U Network has also announced a $1 million donation to promote the development of the DePIN industry.