Decentralized Messaging Platform Satellite IM Raises $10.5M Seed Round Led by Framework Ventures and Multicoin

According to The Block, the decentralized communication platform Satellite IM completed a $10.5 million seed round of financing, led by Framework Ventures and Multicoin Capital, with participation from Solana Ventures, IDEO CoLab, Hashed and Pioneer Square Labs Ventures. Satellite IM plans to offer early access to its desktop app (built on top of the Interplanetary File System) this summer, which will support 4K video chat and file sharing of up to 4GB. Founded in 2020 by Christopher Hogan and Thomas McArdle, Satellite IM is a decentralized communications platform that enables private peer-to-peer messaging. Satellite IM also plans to release a mobile-native app, UpLink.