Berlin-based blockchain startup peaq lands €2.5 million to transform IoT into EoT - the Economy of Things
Summary
Berlin-based blockchain startup peaq has successfully raised €2.5 million in a round led by Scherzer & Co. AG, Werner Geissler (former Vice-Chairman of Procter & Gamble), as well as Meteoric VC. Founded in 2017, peaq stands for a future in which decentralized technology puts control back into the hands of the masses, supporting the democratization and sovereignty of data and identity. The goal is to allow peaq’s enterprise solutions to work even more efficiently, transparently, and securely, while enabling unrestricted interoperability and value exchange across the entire EoT. “We are proud to lead this financing round and to accompany the development of this highly competent team with its future-oriented technology” said investor Georg Issels, member of the management board of Scherzer & Co. AG. We will continue to follow our mission of making our technology accessible to society and build an even stronger bridge between the real world and the blockchain ecosystem.” The Berlin-based company’s activities are also being registered in the political arena; peaq has been selected to participate in the European GAIA-X moveID project to build a secure, high-performance and trustworthy data infrastructure for future mobility.