Solana DePIN Ambient raises funds ahead of token launch, acquires PlanetWatch's network | The Block

Ambient, a Solana-based DePIN focused on environmental data collection, secured $2 million in seed funding led by Borderless Capital. Formed in January 2023, Ambient acquired PlanetWatch's air quality monitoring network, migrating it to Solana and planning to launch its own token on the platform. The company's sensor network, currently powered by PLANETS tokens, has captured over 10.7 billion data streams from over 25,000 sensors in 20 countries, with Ambient aiming to expand its offerings to include noise and light pollution monitoring.

Ambient Raises $2 Million in Seed Funding for Decentralized Environmental Data Network on Solana

Ambient, a decentralized physical infrastructure network (DePIN) built on the Solana blockchain, has successfully secured $2 million in seed funding to further its mission of collecting and leveraging environmental data.

The funding round was led by Borderless Capital, with participation from esteemed venture capital firms such as Solana Ventures, Parami Investors, Sonic Boom Ventures, and Primal Capital. The financing structure involved a simple agreement for future equity (SAFE) with token warrants, according to Luca Franchi, Ambient's co-founder and CEO.

Acquisition of PlanetWatch Network

Established in January 2023, Ambient has strategically acquired the network of PlanetWatch, an Algorand-based DePIN project specializing in air quality monitoring. This acquisition prompted Ambient's decision to migrate its operations to the Solana blockchain due to its superior scalability and transaction efficiency.

PlanetWatch's existing token, PLANETS, will remain on the Algorand blockchain, while Ambient prepares to introduce its own novel token on Solana. "In the coming weeks, we will release a roadmap detailing the launch of our new Solana-based token, along with migration incentives and platform enhancements to fuel Ambient's aspirations," Franchi stated.

Prior to the official token launch, Ambient intends to deploy on Solana's testnet this summer. The company will also onboard PlanetWatch's air quality sensors and community onto its network in advance of the migration.

Harnessing Ambient's Potential

Ambient's primary function revolves around collecting "real-time and localized" environmental data through a network of sensors. This data has the potential to "positively impact global health and well-being, beginning with the air we breathe," said Franchi. Ambient's long-term vision encompasses the expansion into complementary environmental datasets, such as noise and light pollution.

Currently, individuals participating in Ambient's network receive PLANETS tokens as compensation for providing data. This reward system will transition to Ambient's own Solana-based token upon its launch. The PLANETS token currently boasts a modest fully diluted valuation of approximately $747,000.

Ambient asserts that its users have deployed over 25,000 environmental sensors across more than 20 countries, generating data feeds at five-minute intervals, resulting in an impressive 10.7 billion data streams.

"The top three countries contributing to our sensor deployment are the United States, Germany, and the Netherlands," Franchi noted. "Participants acquire, install, and connect their sensors from a pool of network-certified devices. Sensor costs range from $400 to $2,100, depending on their intended indoor or outdoor use and the air quality parameters they measure."

Ambient's plans include the introduction of a revised sensor storefront alongside the Solana launch, broadening the range of certified hardware to accommodate diverse use cases and price points. To enhance accessibility and reward user participation, the company is also developing a mobile application.

A Path to Environmental Progress

This funding represents a significant milestone for Ambient, validating its mission to harness decentralized technologies for environmental monitoring and improvement. As it continues to grow and expand its capabilities, Ambient has the potential to empower individuals, organizations, and governments to make data-driven decisions that promote a healthier and more sustainable future.