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Hivello is a Toronto, Canada-based web3 platform enabling users to participate in Decentralized Physical Infrastructure Networks (DePIN) by installing an application on physical devices like computers and routers to mine protocols and generate passive income. The company has secured $2.5 million in total funding across two rounds, comprising a $1 million Pre-Seed round in December 2023 and an additional $1.5 million in an upsized funding round announced in early 2024. Notable investors include Animoca Brands, Taisu Ventures, NGC, Blockchange, and Blockchain Founders Fund. Hivello operates as a venture-backed fintech company, providing a platform for individuals to monetize their idle computational resources within the DePIN ecosystem. The organization was established in 2022 by co-founders Dom Carosa, Andrew Smith, and Justin Rosenberg.
Hivello has raised $4.5M across 2 funding rounds.
Hivello has raised $4.5M in total across 2 funding rounds.
Hivello has raised $4.5M across 2 funding rounds. Most recently, it raised $1.5M Other Equity in January 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 31, 2024 | $1.5M Venture Round | — | Tobias Bauer, Kenneth Seiff, Candaq, Contango Digital Assets, Cypher Capital, IDG Capital, MH Ventures, NGC Ventures, Primal Capital | Announced |
| Dec 1, 2023 | $3M Seed | — | Atomico, Blockchain Founders Fund, Blockchange Ventures, Founders Fund, Multicoin Capital, Adam Jackson, Eric Demuth, Johann "hansi" Hansmann, Bing Ventures, Genesis Block, IDG Capital, Mexc, Roger LIM, Nxgen, Side Door Ventures, Xt.com | Announced |
Hivello is a DePIN (Decentralized Physical Infrastructure Network) aggregator that enables users to earn passive income by contributing idle computer resources like CPU, GPU, bandwidth, and storage to multiple Web3 protocols via a simple desktop app.[1][2][3][4][6] Founded in 2022 and headquartered in Amsterdam, the company serves non-technical individuals worldwide, solving the problem of fragmented, complex DePIN participation by offering a unified, user-friendly dashboard that simplifies mining across networks without specialized hardware or expertise.[1][2][3][4] With $2.5 million raised as of February 2025 from investors like Blockchange Ventures and NGC Ventures, Hivello has integrated 11+ protocols, burned over 19 million $HVLO tokens, and supports Windows, macOS, and Linux for broad accessibility and growth momentum.[1][5][6]
Hivello was founded in 2022 by Domenic Carosa (Co-Founder & Chairman), Andrew Smith (Co-Founder & CEO), and Justin Rosenberg.[1][4] Carosa brings over 25 years in business and technology, including founding TSX-listed fintech Banxa Holdings, co-founding Apollo Crypto, and investing in 50+ tech companies via Dominet Venture Partners; Smith has 15+ years in online, mobile, and FinTech, with prior roles at Banxa.[4] The idea emerged to democratize DePIN access amid a fragmented market of 1,000+ projects requiring steep technical knowledge, allowing everyday users to mine Web3 protocols using spare device resources.[2][3][4] Early traction included product launch, funding rounds, and integrations like Theta Network and Nosana, building toward a scalable platform with AI personalization planned by Q3 2025.[3][5]
Hivello rides the DePIN trend, a $14B market layer bridging blockchain with real-world infrastructure like IoT, AI, wireless, and data storage, enabling global resource sharing without centralized control.[1][2][3][5] Timing aligns with Web3's push for decentralization, countering centralized social media by empowering users as active participants who own data and earn from contributions, amid rising demand for accessible crypto mining.[2][3][4] Market forces like fragmented DePIN projects and non-technical user hesitation favor Hivello's aggregator model, which influences the ecosystem by onboarding mass users, strengthening networks via aggregated resources, and accelerating adoption through partnerships and scalability.[3][5]
Hivello is poised to expand as the go-to DePIN gateway, with roadmap milestones like additional protocol integrations, EVM-compatible blockchain support, and AI-driven personalization by Q3 2025 driving user growth and rewards.[3] Trends like DePIN's maturation, AI-blockchain convergence, and passive income demand will shape its path, potentially elevating its role in a fairer, user-owned internet.[2][4] As adoption scales, Hivello could redefine Web3 entry, turning everyday devices into earners and amplifying decentralized infrastructure's global impact—unlocking participation for all, just as its app simplifies the complex world of DePIN.[1][3][6]
Hivello has raised $4.5M in total across 2 funding rounds.
Hivello's investors include Tobias Bauer, Kenneth Seiff, Candaq, Contango Digital Assets, Cypher Capital, IDG Capital, MH Ventures, NGC Ventures, Primal Capital, Atomico, Blockchain Founders Fund, Blockchange Ventures.
