• The GEODNET Foundation announced the completion of a private $1.5M token sale led by Borderless Capital’s EdgeFi Fund.
• The investment round includes additional participation from IoTeX and angel investors.
• Proceeds will be used to strengthen the project with emphasis on growing reliable Global Coverage and a Mobile operating-system Software Development Kit.
GEODNET Foundation Announces Private Investment Round
The GEODNET Foundations recently announced the completion of a private $1.5M token sale led by Borderless Capital’s EdgeFi Fund, with additional participation from IoTeX, a web3 technology provider and blockchain for Internet of Things, as well as angel investors.
Award Winning Network
Introduced at the Institute of Navigation 2021 GNSS+ Conference, the Global Earth Observation Decentralized Network, GEODNET, received an Institute of Navigation’s best presentation award and has rapidly grown since official launch in early 2022. The real-time GEODNET network is now the world’s largest decentralized Geo-Spatial Reference Network with over 3000 reference stations online in every major continent.
High Precision Applications
The GEODNET location service offers reliable centimeter location accuracy for applications such as drones, robotic vehicles, augmented reality, and IoT/mobile devices. GEODNET station data is actively utilized by leaders in high-precision applications such as Hemisphere GNSS, Quectel Wireless Solutions, and Rock Robotic.
Station Owners Rewarded
GEODNET station owners set up a Satellite Mining station and are rewarded in the project’s native Polygon token (GEOD).
Investment Proceeds Utilization
The investment proceeds will be utilized to strengthen the project with emphasis on growing reliable Global Coverage and a Mobile operating-system Software Development Kit so that developers can create Enterprise and Consumer applications using Artificial Intelligence (AI), Internet of Things (IoT), and blockchain technologies.