Narratives
The money going into DePIN, who puts it there, how much it is talked about and the projects behind it.
Money is moving into DePIN; Phase is the project with the most noise there; Nous Research has the most funding; it has no token yet; its presale: not yet.
- Seeded
- Funded
- Noticed
- Crowded
- Cooling
What changed this week
- No new round this week; 1 round in the last 30 days, $90.0M in total.
- New money from a new name: Robot Ventures, Samsung and Union Square Ventures make their first round we know of here.
- It took 0.5% of our news this week, up from 0.3% the week before.
- Its coins did 0.6 pts worse than the market over 7 days.
- The most talked-about project is Phase (20 stories).
Rounds, 30 d1vs 2 before
With top funds1rounds
Raised, 30 d$90.0M1 with a figure
Share of news0.4%81 stories
No token yet3of 6 projects
Twelve weeks i
Rounds a week 3
Share of news 0.7%
Coins vs market ±9 pts
Stage
week to Aug 27this week
rounds with a top fundother roundsshare of newscoins ahead of the marketbehindrebuilt from past data
Read the twelve weeks as a table
| Week to | Rounds | Top funds | Raised | News | Coins vs market | Stage |
|---|---|---|---|---|---|---|
| Nov 12 | 0 | — | — | 0.5% | -0.6 pts | Seeded |
| Nov 5 rebuilt | 0 | — | — | 0.3% | -3.9 pts | Seeded |
| Oct 29 rebuilt | 0 | — | — | 0.3% | -3.6 pts | Funded |
| Oct 22 rebuilt | 1 | 1 | $90.0M | 0.4% | -0.9 pts | Funded |
| Oct 15 rebuilt | 0 | — | — | 0.7% | -2.4 pts | Seeded |
| Oct 8 rebuilt | 0 | — | — | 0.4% | -0.1 pts | Seeded |
| Oct 1 rebuilt | 2 | 1 | $47.4M | 0.3% | +9.0 pts | Seeded |
| Sep 24 rebuilt | 0 | — | — | — | — | Funded |
| Sep 17 rebuilt | 0 | — | — | — | — | Funded |
| Sep 10 rebuilt | 0 | — | — | — | — | Funded |
| Sep 3 rebuilt | 3 | 2 | $3.0M | — | — | Funded |
| Aug 27 rebuilt | 0 | — | — | — | — | Seeded |
Projects to watch i
| Project | Last round | Funds | Token | News | Social | Sale |
|---|---|---|---|---|---|---|
| Nous Research | Oct 2026 · Series B · $90.0M | Robot Ventures1789 CapitalM12+3 | No token yet | 1 | — | Not yet |
| Antseed | Oct 2026 · Round · $2.4M | Spark CapitalNorth Island Ventures (NIV)Albert Castellana+9 | ANTS | — | — | Not yet |
| 4Dlabs | Sep 2026 · Round | YZi Labs (ex Binance Labs) | No token yet | — | — | Not yet |
| Grass (Wynd Network) | Sep 2026 · Round | Multicoin Capital | GRASS | — | — | Not yet |
| Phase | Oct 2026 · Private · $45.0M | Kirill Eves | No token yet | 20 | — | Not yet |
| Tina | Sep 2026 · Round · $3.0M | Archer CapitalGemhead CapitalMYR Venture (ex Mayer Venture)+1 | TINA | — | — | Not yet |
Funds in DePIN i
| Fund | Tier | Rounds | This month | Led | Projects | First here |
|---|---|---|---|---|---|---|
| Robot Ventures first time | Tier 2 | 1 | 1 | 1 | Nous Research | Oct 19, 2026 |
| Samsung first time | Tier 2 | 1 | 1 | — | Nous Research | Oct 19, 2026 |
| Union Square Ventures first time | Tier 2 | 1 | 1 | — | Nous Research | Oct 19, 2026 |
| M12 | Tier 3 | 1 | 1 | — | Nous Research | Oct 19, 2026 |
| 1789 Capital | Tier 4 | 1 | 1 | — | Nous Research | Oct 19, 2026 |
| Nvidia | — | 1 | 1 | — | Nous Research | Oct 19, 2026 |
| Multicoin Capital | Tier 1 | 1 | — | — | Grass (Wynd Network) | Sep 1, 2026 |
| P2 Ventures | Tier 2 | 1 | — | — | Perceptron Network (ex Block Mesh Network) | Jul 1, 2026 |
| Animoca Brands | Tier 3 | 1 | — | — | Vangrid | Aug 1, 2026 |
| Borderless Capital | Tier 3 | 1 | — | — | Vangrid | Aug 1, 2026 |
| Gate Labs | Tier 3 | 1 | — | — | Vangrid | Aug 1, 2026 |
| Reciprocal Ventures | Tier 3 | 1 | — | — | Antseed | Oct 1, 2026 |
| Selini Capital | Tier 3 | 1 | — | — | Perceptron Network (ex Block Mesh Network) | Jul 1, 2026 |
| Titans Ventures | Tier 3 | 1 | — | — | Magne AI | Jul 1, 2026 |
After the round i
| Project | Round | Token | Since |
|---|---|---|---|
| Antseed | Oct 1, 2026 | Listed | — |
| Grass (Wynd Network) | Sep 1, 2026 | Already traded | 0.0% |
| Tina | Sep 1, 2026 | Listed | — |
| Magne AI | Jul 1, 2026 | Listed | — |
All 10 rounds we know of in DePIN, newest first
| Date | Project | Round | Raised | Category | Investors |
|---|---|---|---|---|---|
| Oct 2026 | Nous Research | Series B | $90.0M | DePIN | Robot VenturesNvidiaM12Samsung+2 |
| Oct 2026 | Phase | Private | $45.0M | DePIN | Kirill Eves |
| Oct 2026 | Antseed | — | $2.4M | DePIN | Spark CapitalCollider VenturesDigital Currency Group (DCG)North Island Ventures (NIV)+8 |
| Sep 2026 | 4Dlabs | — | — | DePIN | YZi Labs (ex Binance Labs) |
| Sep 2026 | Grass (Wynd Network) | — | — | DePIN | Multicoin Capital |
| Sep 2026 | Tina | — | $3.0M | DePIN | ThinkwareGemhead CapitalArcher CapitalMYR Venture (ex Mayer Venture) |
| Aug 2026 | Botanika | — | $1.5M | DePIN | CRIT VenturesBaboon VCDaedalus |
| Aug 2026 | Vangrid | — | $9.0M | DePIN | Hashkey CapitalBorderless CapitalCrypto com CapitalAnimoca Brands+2 |
| Jul 2026 | Magne AI | Strategic | $2.6M | DePIN | GaeaVenturesTitans VenturesGo2Mars Labs |
| Jul 2026 | Perceptron Network (ex Block Mesh Network) | Strategic | $6.5M | DePIN | Sigma CapitalSelini CapitalQCP CapitalP2 Ventures (ex Polygon Ventures)+11 |
Read Nov 12, 08:42 UTC. Rounds by month are dated the day they became known.