Positive press of this magnitude can help propel your next big idea.
If you have a reputation of compensating employees well when startup ideas don't pan out they will be more likely to want to join the next one.
Though there are probably more news worth things you could do with 300m.
It's not as easy as "improving" existing protocols. Look at the ipv4 -> ipv6 mess. And even then ipv6 suffers from issues that are tied to how networks were built, etc. See this great article: https://apenwarr.ca/log/20170810
If I'm building something to give connectivity to dog tags, why not do something simpler?
What about this: pass through infrastructure cost with a wee markup for maintenance/support and negotiate a modest percentage of gross revenue from your successful client companies.
That way you have a low-risk "farm" of potential big hits, and your users have stable costs.