Borderless Capital Leads $1.5M Funding into the GEODNET Founda…

Palo Alto, California, USA, July twenty fifth, 2023, Chainwire

GEODNET’s rising International Community of 3000+ web3 GNSS Base-stations is acknowledged by trade as a number one industrial answer for Actual-Time Kinematic (RTK) purposes

The GEODNET Basis (GeoDAO PTE, LTD) introduced the completion of a non-public $1.5M token sale at EthCC (The Ethereum Neighborhood Convention). The spherical was led by Borderless Capital’s EdgeFi Fund, the primary web3 funding fund solely targeted on Decentralized Bodily Infrastructure Networks (DePIN). The funding spherical contains further participation from IoTeX, a web3 know-how supplier and blockchain for Web of Issues, in addition to angel traders. 

Launched on the Institute of Navigation 2021 GNSS+ Convention, the International Earth Remark Decentralized Community, GEODNET, acquired the Institute of Navigation’s greatest presentation award and has quickly grown for the reason that official launch in early 2022. With over 3000 reference stations on-line in each main continent, the real-time GEODNET community is the world’s largest decentralized Geo-Spatial Reference Community. 

The GEODNET location service affords dependable centimeter location accuracy for purposes reminiscent of drones, robotic autos, augmented actuality, and IoT/cellular units. 

GEODNET station knowledge is actively being utilized by leaders in high-precision purposes together with Hemisphere GNSS, Quectel Wireless Solutions, and Rock Robotic. GEODNET station house owners arrange their very own Satellite Miner and are rewarded with $GEOD, the challenge’s native Polygon token.

“We led this funding as a result of the GEODNET neighborhood is proving that thoughtfully deployed DePIN networks provide high-value, revenue-generating options to real-world issues”, stated Álvaro Gracia, Associate at Borderless Capital. 

The GEODNET Basis manages the open community protocol and promotes service utilization throughout the conventional GNSS and IoT trade. GEODNET will make the most of the funding proceeds to strengthen the challenge total, and emphasize on rising the dependable International Protection, and introducing a Cellular operating-system Software program Growth Equipment. 

“GEODNET’s distinctive mixture of Synthetic Intelligence, the Web of Issues, and Blockchain is a sport changer for quite a few cellular purposes.  This funding will assist pave the way in which to a broader developer ecosystem in each Enterprise and Shopper purposes”, stated Mike Horton, Undertaking Creator of GEODNET.


GEODNET is a decentralized community of high-precision multi-band GNSS base stations for AIoT, Geo-Scientific, and Metaverse purposes.  GEODNET stations #MineTheSky for real-time satellite tv for pc knowledge, and GEODNET is the idea of a brand new class of distributed cryptographic sensor networks powered by blockchain.

About Borderless

Borderless is a number one funding supervisor specialised in Web3 know-how. Our mission is to help the subsequent wave of creators who’re driving the event of modern applied sciences that can allow borderless worth creation. We’re dedicated to empowering our founders to achieve their most potential and create a optimistic change on the planet.

About IoTeX

 IoTeX is a modular Web3 platform connecting good units to blockchains for Web3 integration in actual world purposes. IoTeX is a number one know-how supplier of Decentralized Bodily Infrastructure Community (DePIN).  IoTeX combines blockchain, middleware, and open {hardware} to attach billions of units and dApps with privateness and belief.


Mike Horton
[email protected]

Source link