DePIN developer Verida completes $5 million seed round financing, with participation from Simurg Labs and others.

news from The Block, DePIN network developer Verida has completed a $5 million seed round financing. This round was participated by O-DE Capital Partners, ChaiTech Ventures, Simurg Labs, Gate Labs, HASH CIB, Bison Capital, Amesten Capital, and Evan Cheng from Mysten Labs, with a post-money valuation of $50 million. The funds from this round will be used to develop Verida's personal data storage infrastructure, providing decentralized storage and encryption services for users' personal information.