Framework Ventures leads $2.5 million funding round for DePIN startup Starpower

Starpower, a startup that develops decentralized physical infrastructure networks (DePINs), has raised $2.5 million in new financing, bringing its total funding to $4 million.  

Framework Ventures led the round. Solana Ventures and Bitscale Capital provided additional support, according to a release shared with The Block. 

Starpower is creating a decentralized network of energy sources, including storage batteries and electric vehicles, to help meet power needs. Its protocol amassed 1.5 million registered wallets and over 16,000 activated devices, in addition to $1 million in revenue, the release continues. The firm intends to use the funds to continue building its decentralized platform and increase efforts to improve user adoption.

“Starpower envisions a future where decentralized energy solutions address the real-world challenges of renewable energy volatility and the growing energy demands of AI," said Laser Ding, CEO and Co-Founder of Starpower. "By integrating advanced batteries (DeSci) into a resilient, decentralized network, Starpower ensures stable, scalable energy while alleviating pressure on the power grid."

Starpower previously raised $1.5 million in pre-seed funding led by the DAO Alliance.