RockawayX is excited to co-lead the $3M oversubscribed investment round into Teneo Labs, the company behind Teneo Protocol. Teneo is transforming how businesses access social media data by building a decentralized data aggregation layer that unlocks public data streams from platforms like X, Reddit, TikTok, and Facebook.
Breaking Barriers to Social Media Data Access
Teneo Protocol is a DePin (Decentralized Physical Infrastructure) solution that empowers users to regain ownership of their social media data while rewarding them for sharing it.
Social media data has traditionally been locked behind restrictive APIs, high costs, and monopolistic control. By contributing to a decentralized network, users bypass traditional data access barriers, ensuring that data ownership and value remain in the hands of the people — not corporations.
Teneo is also redefining how businesses interact with social media data, offering low-latency, high-quality data streams that can be leveraged for cutting-edge applications, including AI training and machine learning models.
Teneo’s Explosive Growth
Teneo has seen remarkable adoption, with over 700,000 Machine IDs on the Peaq Network, with 600,000 added in just the last month. The protocol now powers 80% of all Machine IDs on the Peaq blockchain and has activated 3.8 million community nodes, enabling over 12 million daily data transfers.
Unlocking Game-Changing Use Cases
Thanks to Teneo’s real-time social media data streams, businesses can unleash numerous new valuable use cases by reducing the cost of accessing social media data by 90%.
For example, AI companies can develop real-time news coverage tools that enhance the recency of information used in their models. Market-making companies can track topics, narratives, and social media mind share in real-time and make split-second trading decisions based on the information that influences the asset prices.
“We are excited to partner with Teneo and help them deliver on their vision to give data ownership to the people. By coordinating the already existing social media user base into a DePin network, Teneo materially lowers the cost of accessing social media data, unlocking previously prohibitively costly use cases in AI, finance, marketing, and other sectors. We can’t wait to see what innovative use cases Teneo drives.” says Marek Sandrik, a partner at RockawayX.
Financing Round
This $3M financing round was co-led by RockawayX, Borderless, and Generative Ventures, with participation from EQT, Moonrock Capital, Outlier Ventures, and others. The company plans to use the funds to support its skyrocketing growth.
“This seed funding is a huge milestone for Teneo and shows just how powerful our mission is — to put data ownership back into the hands of the people” says Leroy Hofer, the CEO and co-founder of Teneo. “With the support of our incredible investors, we’re doubling down on developing the Teneo Community Node, making it easier for people to unlock public social media data and earn rewards for the value they create. We’re just getting started, and I can’t wait to see what we’ll build together.”
If you want to participate in Teneo’s vision, check out their website, download the community node, and start being rewarded for your contribution.
We recently caught up with the Teneo team for a Q&A session, covering the project’s origin, mission, and what makes it a game changer.
Read it here.
About RockawayX
RockawayX is a $2B AUM investment firm backing leading Web3 founders. In addition to venture investing, RockawayX focuses on long-term value creation by providing liquidity and engineering resources to accelerate go-to-market and achieve exponential growth faster. To date, RockawayX has invested in 74 projects across the Solana, Ethereum and other ecosystems.
