Faculty Group Invests in Parasail: The First Trust Layer for DePIN

Faculty Group Invests in Parasail: The First Trust Layer for DePIN

We are pleased to announce our strategic investment in Parasail (formerly Repl), the first trust layer that guarantees service levels and coordinates hardware resources for DePIN.  This milestone marks a pivotal moment in Parasail’s journey to enhance service levels and user experience of decentralized physical infrastructure networks (DePIN) through its abstraction interface. 

Parasail enables new DePIN projects to reuse the assets, users, and hardware resources of existing DePINs focusing so far on Bitcoin, Solana and Filecoin networks with many others in the pipeline. These restaked assets can be used to secure or provide services to a specific DePIN network and serve as the capital and resource foundation. 

Parasail’s vision is to bring together the fragmented DePIN landscape and create an interconnected ecosystem that leads to enhanced user experiences and broader adoption. They break down silos and foster strong synergies among DePIN networks.  

DePIN projects leverage Parasail to enhance service trust and market reach, restakers contribute to and derive returns from the insurance layer, and users enjoy reliable DePIN services.

Our vision aligns with theirs, and we are excited to support them in their most recent funding round to ensure they have the resources to continue to allow them to build on their success.

We have high expectations of the team's ability to create a narrative and execute their vision, two things fundamental in our investment thesis.  The team also has the support network to help them reach their full potential.

Why Parasail?

As part of our investment thesis, we are very bullish about the restaking space and have also made several investments this year in the Bitcoin, Solana and Filecoin Ecosystems. Parasail is best placed to take advantage as a first mover and is well positioned for success with its impressive TVL growth since launch.

Yaroslav Writtle, Partner at Faculty Group, sums up the investment committee’s decision, saying:

“Today the DePin ecosystem is deeply fragmented both from a collateral and user perspective. Parasail brings together these jigsaw pieces to construct an ecosystem that will use different assets to create secure infrastructure for future DePIN applications to build on top of. We are excited by the team and the traction they have achieved thus far. This is just the tip of the iceberg in terms of DePIN adoption which will blossom over the next 5 to 10 years.”

Our investment in Parasail reflects our commitment to supporting best-in-class projects and founders. At Faculty Group, we continuously explore new narratives and investment opportunities in our search for the best, regardless of chain or layer, that align with our vision for 2024 and beyond. 

If you want to work with us or discuss deal flow opportunities, reach out to vc@faculty.group for more information.

CeAnn Simpson

CeAnn Simpson

An experienced editor & analyst, CeAnn has been writing in the blockchain/DeFi/web3 space for six years. She loves creative challenges, producing podcasts and gaining insights from clients and guests.