peaq Secures $20 Million in ICO Funding on May 9, 2024

According to media reports, peaq raised $20 million through an ICO on May 9, 2024. Following this round, peaq’s total funding has reached $41 million, with a latest valuation of $333 million.peaq is a Web3 network built on the Polkadot ecosystem, focused on empowering the Economy of Things (EoT). The project provides a decentralized application platform for entrepreneurs and developers, enabling the creation of innovative solutions for vehicles, robots, and devices. It also grants users governance and profit rights, allowing connected machines to generate value for users while delivering goods and services.peaq’s development has progressed smoothly. Since its initial $6 million funding round in June 2022, the project has continued to attract investor interest. In March 2024, peaq completed a $15 million funding round, followed by the $20 million ICO in May of the same year. On the technology front, peaq officially launched its mainnet and activated trading features on November 12, 2024. On January 2, 2025, peaq tokens were listed on major exchanges, further expanding the project’s market presence.