The round was led by Multicoin Venture Fund and Framework Ventures. The round also saw participation from prominent institutional venture investors including Hashed Venture Fund, IDEO CoLab, Solana Ventures, and Pioneer Square Ventures Fund, among others.

Satellite IM is a fully decentralized peer-to-peer voice, video, and text communication platform. Satellite IM enables simple sovereign storage and peer-to-peer communication, leveraging the interplanetary filesystem (IPFS) and dag-jose. Satellite IM's initial core desktop application, Satellite IM, supports 4K video chat and streaming, lossless audio, and 4GB sharing capabilities, at no cost to the user. Satellite IM's mobile-native application, Uplink, is scheduled to be released in the Fall of 2022.