IoTeX, an Ethereum-compatible blockchain optimized for DePIN, announced it has raised $50 million from a group of investors including Borderless Capital, Amber Group, SNZ Holding, Foresight Ventures, FM Group, Metrics Ventures, EV3 Ventures, Waterdrip Capital, and Summer Everest. The funding round, highlighted in the Protocol Village newsletter, aims to support the development and enrichment of DePIN projects within the IoTeX ecosystem, recognized as the largest DePIN ecosystem on mainstream trading platforms. The $50 million will be allocated towards long-term staked IOTX, enhancing the platform's DePINsurf feature and supporting the growth of next-gen DePIN. This investment marks a significant step towards the growth of the DePIN ecosystem and the upcoming launch of IoTeX's new mainnet.