DePIN project Daylight raises $75 million in equity and loan in round led by Framework5 hours ago7 min read4 comments

In a move that signals a powerful vote of confidence for the burgeoning decentralized physical infrastructure networks (DePIN) sector, the project Daylight has successfully secured a formidable $75 million war chest through a combination of equity and loans, a round authoritatively led by the heavyweight venture firm Framework Ventures. This isn't just another crypto funding blip on the radar; it’s a seismic event that underscores a pivotal shift in how institutional capital is beginning to bridge the chasm between traditional finance (TradFi) and the decentralized world.The $15 million equity portion of this raise saw Framework not just leading but setting the tone, with a formidable syndicate of co-investors including the crypto arm of Andreessen Horowitz (A16z Crypto), the sharp-eyed Lerer Hippeau, the strategically focused M13, and the exchange-giant-backed Coinbase Ventures. When names of this caliber align on a single cap table, it’s not merely an investment—it’s a strategic declaration.The DePIN narrative, which involves using blockchain-based tokens to incentivize the building and operation of real-world physical infrastructure like wireless networks, data storage, and sensor grids, has been bubbling under the surface for some time, often overshadowed by the more glamorous, and frequently speculative, narratives in DeFi and NFTs. However, this funding round for Daylight acts as a powerful flare, illuminating the sector's transition from a theoretical 'what if' to a tangible, investable asset class with a clear path to generating real-world utility and, crucially, sustainable revenue.The participation of Coinbase Ventures is particularly telling, hinting at a future where such tokenized infrastructure assets could find a seamless on-ramp and trading venue for a mainstream audience, while A16z Crypto’s involvement reinforces the long-term, thesis-driven belief in crypto’s capacity to rebuild foundational layers of our economy. What makes this raise so analytically compelling is the structure itself—the blend of equity and debt.The equity portion provides the venture-style risk capital for aggressive growth and network expansion, a bet on the team and the vision. The loan component, however, introduces a layer of sophisticated, TradFi-like financial engineering.It suggests that Daylight’s model is perceived as having sufficiently predictable cash flows or asset-backed security to warrant debt financing, a level of maturity rarely seen in early-stage crypto projects. This hybrid approach could very well become a blueprint for future DePIN capital formation, allowing projects to leverage their physical assets in ways that pure-protocol, software-only crypto projects cannot.From a regulatory standpoint, this influx of institutional capital into a space that tangibly touches the physical world will undoubtedly draw more scrutinizing gazes from bodies like the SEC. The question of whether the tokens involved are securities will be argued with renewed vigor, but the very fact that established VCs are diving in headfirst suggests a calculated confidence in navigating these regulatory murky waters.The broader implication for the crypto market is a potential re-rating of what constitutes a 'fundable' project, moving beyond purely financial applications to those with demonstrable, offline impact. For the average investor, this signals a new avenue for exposure—one that is less correlated with the volatile swings of meme coins and more tied to the gradual, brick-by-brick construction of a decentralized future you can actually see and touch. Daylight’s successful raise is more than just a headline; it’s a cornerstone being laid for the next epoch of crypto, where the digital and physical worlds don't just interact but are fundamentally fused through token-incentivized, community-owned infrastructure.