April 16, 2024
The GEODNET Foundation oversees the blockchain-based global navigation network GEODNET and has successfully raised $2 million in a new investment round. Pantera Capital led the funding, which was participated in by CoinFund, VanEck, and Santiago R. Santos. This capital will support GEODNET's efforts toward decentralization and enhance developer accessibility.
Project | Latest Raise Date | Latest Raise | Stage | Total Raise | Category |
|---|---|---|---|---|---|
GEODNET | Apr 16, 2024 | $2M | Seed | $7M | DePIN |
The network's rapid growth has led to commercial partnerships across various sectors, including agriculture, drones, consumer robotics, and advanced global positioning services such as Precision Point Positioning (PPP) and automotive-focused PPP-RTK services. GEODNET also supports Low Earth Orbit satellite tracking.
The organization attributes its growth to its use of decentralized blockchain technology. This approach has allowed GEODNET to establish a large receiver network and secure customer contracts. The organization focuses on providing precise and affordable location services, which are expected to drive economic growth in the geospatial industry.
About GEODNET
GEODNET is a decentralized global navigation network that uses blockchain technology to provide Real-Time Kinematic (RTK) services. The network uses Decentralized Physical Infrastructure Network (DePIN) principles to offer high-precision location data. GEODNET's RTK stations enhance on-device sensors such as cameras, LiDAR, and IMUs, enabling AI-based autonomous systems to achieve accurate real-time 3D localization. This network aims to improve location services by providing an affordable and scalable solution for high-precision positioning needs.
Website: https://geodnet.com/
X Account: https://x.com/GEODNET_
X Followers today: 35,928
X Followers 30 days ago: 34,920
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About Investor
Investor: Pantera Capital
Pantera Capital led the seed round funding, with additional investments from CoinFund, VanEck, and Santiago R. Santos. These investors are recognized for their support of innovative projects within the blockchain and decentralized finance sectors.
Location: United States
Website: www.panteracapital.com
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