Hexagon Wireless Raises $2 Million to Build Decentralized Wireless Networks | Nation/World

MIAMI, May 19, 2022 (GLOBE NEWSWIRE) — Hexagon Wireless is thrilled to announce that it has successfully closed a $2 million fundraising round, with participation 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 former President of O’Leary Ventures – Alex Kenjeev – Hexagon Wireless is a company that sits at the intersection of wireless technology and cryptography, in an emerging industry called decentralized wireless (DeWi). DeWi represents a revolutionary new model for building and maintaining wireless networks. By allowing anyone to purchase and deploy hardware that creates wireless coverage, DeWi democratizes ownership and access to spectrum and Internet connectivity. DeWi networks also offer data transfer and connectivity at much cheaper rates than current centralized networks. In effect, the huge costs of labor, rent, and spectrum purchases are spread among each deployer of a DeWi network rather than a single wireless carrier. Individuals and businesses are incentivized to purchase and deploy DeWi hardware as they are compensated with tokens of various protocols based on the quality of coverage they provide and the amount of data transferred.

This funding round will help Hexagon purchase and deploy DeWi hardware and maintain and grow its team. Hexagon Wireless is working with corporate partners, including property owners and infrastructure companies, to deploy DeWi mining hardware at scale.

“Scaling the physical infrastructure for any blockchain (starting with bitcoin) has always been a valuable activity,” said Brian Fakhoury, Partner, Mechanism Capital. “With decentralized wireless networks, the value is two-fold: large-scale deployment and professional operation reduce the need to sell rewards and instead allow participation in the growth of these networks. Hexagon is able to perfectly capitalize on the expansion of this market.

“The future of wireless is decentralized,” said Alex Kenjeev, CEO of Hexagon Wireless. “Hexagon has assembled one of DeWi’s strongest teams, and we’re thrilled to welcome on board an exceptional group of investors who believe in our ability to unlock the promise of this budding space. Led by CEO, Alex Kenjeev, former President of O’Leary Ventures, SVP of Technology, Steve Sellers, alumnus of Google and founder of DeWiGo, and other notable members of the DeWi community, Hexagon Wireless is poised to accelerate the DeWi movement.

About Hexagon Wireless

Hexagon Wireless Inc. is a fast-growing company looking to bring decentralized wireless technology – called “DeWi” for short – to millions more people. Led by CEO, Alex Kenjeev, former President of O’Leary Ventures, SVP of Technology, Steve Sellers, former Google and founder of DeWiGo, and other notable members of the DeWi community, Hexagon Wireless is set to accelerate the DeWi movement. Additional information about Hexagon Wireless is available at www.hexagonwireless.com.

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