Hexagon Wireless raises $2 million in seed financing from Hypersphere Ventures, Mechanism Capital, Superfluid Group, Inc., and strategic angel investors including Mahesh Ramakrishnan and Salvador Gala, formerly of Apollo and Ribbit Capital.
Founded by the former President of O’Leary Ventures, Alex Kenjeev, Hexagon Wireless is a company building at the intersection of wireless technology and blockchain, in an emerging industry called decentralized wireless (DeWi).
Hexagon Wireless Inc. plans to bring DeWi technology to millions more people. Led by CEO, Alex Kenjeev, former President of O’Leary Ventures, SVP of Technology, Steve Sellers, formerly of Google and founder of DeWiGo, and other notable members of the DeWi community, Hexagon Wireless is poised to accelerate the DeWi movement.
Alex Kenjeev, CEO, Hexagon Wireless, pointed out that the future of wireless is decentralized. “Hexagon has assembled one of the strongest teams in DeWi,” said Alex.
The company will use the funds to purchase and deploy DeWi hardware and maintain and expand its team. Hexagon Wireless is working with enterprise partners, including real estate owners and infrastructure companies, to deploy DeWi mining hardware at scale.
Brian Fakhoury, Partner, Mechanism Capital, said:
“Scaling physical infrastructure for any blockchain (starting with bitcoin) has consistently been a valuable business. With decentralized wireless networks, the value is twofold — deployment at scale and professional operation reduces the need to sell rewards and instead allows for participation in the growth of these networks. Hexagon is in a position to capitalize on the expansion of this market perfectly.”
DeWi is a game-changing new approach to creating and sustaining wireless networks. DeWi democratizes spectrum ownership and internet connectivity by allowing anybody to buy and deploy devices that produces wireless coverage.
DeWi networks also provide significantly cheaper data than the current centralised wireless networks. This is because, rather than one wireless carrier, the vast expenditures of labour, rent, and spectrum purchases are dispersed to each DeWi network deployer.
Individuals and businesses are rewarded with tokens from multiple protocols based on the quality of the coverage they give and the volume of data transferred if they purchase and deploy DeWi gear.
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