The Geodnet Foundation, a Los Altos, CA-based organization governing GEODNET, the blockchain-based global navigation network, raised an undisclosed amount in funding.
Backers included CoinFund, Pantera, VanEck and Santiago R. Santos.
The company intends to use the funds to support its near-term objectives of decentralization and developer accessibility.
Created by Mike Horton, Geodnet is a Web3 RTK network that uses DePIN principles. Using only a low data rate network connection, real-time kinematics enables an improvement in position accuracy as compared to standalone GPS. Its global network of RTK stations complement on-device sensors such as Cameras, LiDAR, and IMUs to empower AI-based autonomous systems with accurate real-time 3D localization.
Now, GEODNET has more than 5,000 Real-Time Kinematic (RTK) stations registered and more than a dozen signed enterprise customers for the network.
FinSMEs
17/04/2024