France-based PlanetWatch, Saint Genis Pouilly, a tech company focused on the development of a decentralized air quality monitoring network has secured €3 million seed funding which was secured through a Simple Agreement for Future Equity (SAFE) and backed up with bank loans.
The funding round was spearheaded by Borderless Capital crossing between a Seed one and a future Series A. Other participants who featured in the funding round include Algorand Foundation and Algorand Inc.
PlanetWatch has revealed that the funds secured will be committed to bolstering its technical infrastructure, developing its air quality monitoring network, and advancing its business development enterprise.
PlanetWatch deploys dense and quite affordable air quality monitoring network by capitalizing on the advantages of advanced algorithm, Algorand blockchain, and efficacious air quality sensors. PlanetWatch’s operation network currently uses more than 20,000 sensors active globally. Through this, the platform runs a system of advanced data products for clients comprising private sector players and governmental entities. Under the leadership of Claudio Parrinello, PlanetWatch’s CEO, it performs its operations thereby developing a global established air quality data ledger.
PlanetWatch is an official spin-off company of the European Organization of Nuclear Research popularly known as CERN, and a member of the Crypto Sustainability Coalition which is promoted by the World Economic Forum.
As originally reported in
https://www.finsmes.com/2023/01/planetwatch-raises-e3m-in-funding.html
