September 03, 2024
Onocoy, a venture focused on high-precision GPS using a decentralized physical infrastructure (DePIN) powered by blockchain technology, has achieved a major milestone by securing funding from strategic investors through a private token sale.
Project | Latest Raise | Latest Raise Date | Total Raise | Category |
|---|---|---|---|---|
onocoy | $940K | September 3, 2024 | $4.2M | DePIN |
New investors include industry leaders from the GPS sector, such as Thomas Seiler, the former CEO of GPS hardware manufacturer u-blox, who will also join as an advisor. The funding round also saw participation from Smart Island Capital, a key player in the Web3 DePIN industry, and several business angels from the IoT and blockchain sectors.
This funding round raised over USD 940,000, bringing Onocoy’s total funding to over USD 4,200,000, including previous internal investments and non-dilutive grants. These funds will help scale Onocoy’s commercial services and sales efforts, support the upcoming token launch, and further develop its products, ecosystem, and community.
Co-founder and President Daniel Ammann highlighted that this funding marks an important moment for Onocoy, reflecting investor confidence in their vision and technology. Onocoy is also in advanced discussions with additional industry players for future strategic partnerships.
Onocoy will participate in several major industry events, including Token 2049 and Solana Breakpoint in Singapore, the CV Summit in Zug, Switzerland, and satellite navigation events ION GNSS+ in Baltimore, US, and InterGEO in Stuttgart, Germany. These events will provide opportunities for interested individuals and investors to engage with Onocoy’s leadership and learn more about their project and upcoming token launch.
About onocoy
Onocoy is a platform that uses blockchain technology to provide highly accurate GPS services. It operates a decentralized network of reference stations to deliver real-time kinematic (RTK) corrections, which improves GPS precision. This system is useful for various industries like agriculture, construction, and autonomous vehicles, offering reliable and cost-effective positioning solutions.
Website: https://www.onocoy.com/
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About Investor
New investors include industry leaders from the GPS sector, such as Thomas Seiler, the former CEO of GPS hardware manufacturer u-blox, who will also join as an advisor. The funding round also saw participation from Smart Island Capital.
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