DePIN project U2U Network completes seed round financing, led by IDG Blockchain

According to Cointelegraph, U2U Network, a decentralized physical infrastructure network (DePIN) project, announced the completion of its seed round financing, led by IDG Blockchain, with participation from institutions such as dappOS, Pontem, Lumoz, ZkEX, Avalon, Catalyst, and Grindery. The company did not disclose the specific amount of this round of financing, but it is said to have reached a "seven-figure" amount.U2U Network is building a Layer 1 blockchain network based on subnet technology. Each U2U subnet operates independently of the main network, which means that (1) even if the U2U main network goes down, the subnet can continue to operate without interruption. U2U Network also announced a $1 million donation to promote the development of the DePIN industry.