Venture capital firm Escape Velocity has raised $62 million to focus on investing in DePIN and crypto projects.

PANews reported on January 29 that, according to Fortune, venture capital firm Escape Velocity has completed its second round of fundraising, raising a total of $62 million, primarily to support DePIN (decentralized physical infrastructure) and projects in the broader crypto space.

The fund attracted prominent investors including Marc Andreessen and Ribbit Capital founder Micky Malka, with Cendana contributing $15 million as the largest contributor. Escape Velocity co-founder Mahesh Ramakrishnan stated that despite the current market downturn in the DePIN space, he believes decentralized physical infrastructure will see a breakthrough. The company has previously invested in DePIN projects such as Daylight and Glow in the solar energy sector and plans to continue seeking high-quality projects that transcend market hype.