A blockchain-based start-up for the Internet of Things part-owned by a Maltese man has raised $6 million. 

Peaq is a Web3 network that creates decentralised platforms for the Internet of Things. It’s a peer-to-peer system that takes big tech intermediaries out of the equation. 

In the long term, the Peaq network hopes that people will be able to use any kind of vehicle, robot, or device and the services they provide. 

For example, people will be able to use a food courier app without needing to give up their data to private companies and pay. exorbitant fees on top of that.

One of Peaq’s co-founders is Max Thake.  It has been around since 2017, but it’s major gains over the last two years, so stay tuned for more.

“This is a major milestone on our journey to power the Economy of Things – a world in which anyone can earn from machines providing goods and services to people and each other machines,” Peaq said on social media.

And while the official $PEAQ token will be launched in the coming months, it is already making waves in the industry. 

Recently, it raised $6 million in seed funding. And while Fundamental Labs led the. way, some major players in the field like HashKey Capital, GSR, Delta-v Capital, Mulana Capital, Cypher Capital, GravityX Capital, Waterdrip Capital, Ceras Ventures, Master Ventures and Moonrock Capital are all on board. 

The capital will be used to support the expansion of the network and could be the next stepping stone on Peaq’s journey to the top.

What do you think of Peaq?