UpLink Raises $10M to Decentralize Internet Access for the Masses

UpLink Raises $10M to Decentralize Internet Access for the Masses

Time Stamp: May 9, 2024 9:27 AM
Source Node: 2572937

As vast as the internet is it is still heavily reliant on centralized services run by intermediaries and many of them large tech monoliths like Facebook, Amazon, Google, and Microsoft.  However, in the internet’s earliest days, the promise was a decentralized model where computers directly communicated with one another.  UpLink is on a mission to build a decentralized ecosystem for internet access.  The company seeks to connect existing and new infrastructure to create an all-encompassing network of devices and hardware that will be the foundation of a decentralized internet controlled by many, instead of a few large players.  Providers that supply the internet infrastructure to power the network earn income from the token-powered web3 network depending on amount of usage.  This incentivization structure will lead to more providers providing decentralized internet access to more users.

AlleyWatch caught up with UpLink CEO Carlos Lei Santos to learn more about the business, the company’s strategic plans, recent round of funding, and much, much more…

Who were your investors and how much did you raise? 

We raised $10M Series A led by Framework Ventures. Key Investors in our round also include Blockchange Ventures, Outlier Ventures, Stratos, MSM fund (Mustard Seed Maze), NxGen, amongst others.

Tell us about the product or service that UpLink offers.

Uplink offers a decentralized ecosystem for quality internet access.

What inspired the start of UpLink?

The founders and team started working on Uplink to upgrade connectivity. First it was through Mesh networks, then SDKs, and then this ultimately led the team towards building decentralized connectivity, a distributed ecosystem that will be initially built by our team and community connecting all existing and new internet infrastructures.

How is UpLink different?

Our company is all about building tools and solutions to real-world problems. Working in the connectivity space for a while, the founders realized that the problem wasn’t the devices themselves, but how they were connected. In the end of the day, we’re not a product, we’re an ecosystem built for upgrading connectivity. This connection is what keeps people connected to new opportunities, the world, and each other. Our mission is important and what we’ve built over the years and today will continue to support this mission and ecosystem.

What market does UpLink target and how big is it?

Our market is any provider or consumer that needs a powerful network connection. So, you can imagine just how big that is. The partners we’re speaking to right now are Top 500 Companies that are paving the way in global connectivity. And, we’ll be launching a program soon for our community to link up their devices to our initial network. We will be sharing specifics on these programs and partnerships with our community soon on the Uplink Discord server.

What’s your business model?

We’re basically a decentralized marketplace for internet connectivity. Along with the testnet and then mainnet launch of our decentralized network there will be a dual-economy layer for both on-platform credits and the $ULX token rewarding the ecosystem usage and contribution within the network.

How are you preparing for a potential economic slowdown?

Our company drives value to the ecosystem, no matter what. At the end of the day, we are focused on real traction and driving connectivity within our ecosystem. We are here to deliver quality of service for our customers and to democratice that access within this ecosystem, enabling our early adopters and community that supports us along the way.

What was the funding process like?

Our funding process was relatively simple. We’ve focused our efforts on building a real product, delivering a real solution, and in nurturing our ongoing relationships with leading partners in both the Web2 and Web3 space. Going forward, nothing will change. We will continue to deliver real solutions and tools, prioritizing the relationships and partnerships we currently have and will make as we grow.

What are the biggest challenges that you faced while raising capital?

I believe this is everyone’s problem who is currently fundraising, and that is in choosing the right partners and strategy that aligns with the projected growth and company mission. But, I believe that we’ve got our priorities straight in this regard and cannot wait to share what’s next for Uplink.

I believe this is everyone’s problem who is currently fundraising, and that is in choosing the right partners and strategy that aligns with the projected growth and company mission. But, I believe that we’ve got our priorities straight in this regard and cannot wait to share what’s next for Uplink.

What factors about your business led your investors to write the check?

We’re building real solutions and tools to problems they are facing and will continue to face. It’s as simple as that.

What are the milestones you plan to achieve in the next six months?

Our next milestones are going to be big. Our community will be the first to hear about partnerships that have long been in the works and already deployed (soon!). We’re also really leaning into developing the ecosystem and community in the upcoming months that will lead up to a token activation into our decentralized network. I cannot give away too much, but there’s a lot going on from a technical, partnership and ecosystem level that we’re excited to share with the community. Not only these next 6 months, but the next 2+ years are going to be big for everyone involved in the Uplink ecosystem. This is an exciting time for Uplink.

What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?

My advice is to start small, solve real problems, and be genuine when building your investors relationships and your community.

Where do you see the company going now over the near term?

We’re really focusing on our community right now and getting them more involved in the ecosystem, upcoming partnerships, and unique offerings. We really want to give them early access to everything that’s coming.

What’s your favorite restaurant in the city?

I’d say if you haven’t tried it already, Sushi by M.

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