The Solana ecosystem's DePIN project, Andrena, has received a strategic investment of $2.5 million from two VanEck funds

According to Blockworks, VanEck has invested $2.5 million in the decentralized autonomous wireless network DAWN. This investment comes from VanEck's Digital Assets Alpha fund and VanEck Ventures.

VanEck revealed that this strategic financing marks the "first time multiple funds from VanEck have directly invested in the same company". A portion of the $2.5 million will be used to increase retail participation through hardware, allowing users to create small networks for internet sharing and enabling DAWN to expand internationally.

Andrena CEO Neil Chatterjee said that with the launch of 5G and Starlink, society is moving from wired internet to completely wireless internet, and DAWN aims to take advantage of this "life-changing" shift.

Currently, DAWN's user base is mainly concentrated in the United States. The team's two biggest goals are on-chain income and home users - objectives they plan on achieving: Chatterjee declined to disclose specific data for these two indicators but noted that his team is working towards a target at “millions” level.

Previously in August news reported that Andrena completed a new round of financing worth $18 million led by Dragonfly as part of Solana ecosystem DePIN project.