Miami Tech & Startup News

Hexagon Wireless raises $2M to build decentralized wireless tech

Hexagon Wireless raises $2M to build decentralized wireless tech

Hexagon Wireless, a provider of decentralized wireless technology, announced it has raised $2 million in seed funding.

Founded in 2021, Hexagon Wireless is a developer of decentralized wireless technology working at the intersection of wireless technology and crypto, in an emerging industry called decentralized wireless (DeWi). In this new model for building and maintaining wireless networks. DeWi democratizes ownership of and access to spectrum and internet connectivity  by allowing anyone to purchase and deploy hardware that creates wireless coverage. DeWi networks also offer data transfer and connectivity at much cheaper rates than current, centralized networks, according to the Miami-based startup.  

Hexagon Wireless is led by CEO Alex Kenjeev, who formerly worked with Kevin O’Leary as president of O’Leary Ventures for 11 years. He said Hexagon Wireless is working with enterprise partners, including real estate owners and infrastructure companies, to deploy DeWi mining hardware at scale. The company intends to use the funds to help fund these proects and expand the team.

“With decentralized wireless networks, the value is twofold — deployment at scale and professional operation reduces the need to sell rewards and instead allows for participation in the growth of these networks. Hexagon is in a position to capitalize on the expansion of the market perfectly,” said Brian Fakhoury, Partner with Mechanism Capital, one of Hexagon’s seed round backers.

Also participating in the round were Hypersphere Ventures, Superfluid Group, Mahesh Ramakrishnan and Salvador Gala.

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