GEODNET's 2024 Seed Round and RTK Network Expansion
Mapping Network sells hardware only. We make no promises about network rewards, token value or earnings, and nothing here is financial advice. Check current details on the official GEODNET site.
GEODNET builds a decentralized network of GNSS reference stations for high-precision positioning. In early 2024, GEODNET announced a US$3.5 million seed funding round led by North Island Ventures, with other backers including Modular Capital, Road Capital, Tangent, Reverie, Borderless and IoTeX. It followed an earlier US$1.5 million round in July 2023, led by Borderless Capital. This post sums up the announcement as company news. It isn't a view on GEOD or on any investment.
What the network does
GEODNET uses blockchain technology to coordinate a Real-Time Kinematic (RTK) network. RTK corrections can take positioning from the metre-level accuracy of plain GPS down to the centimetre level. Members of the community install the stations, including Hyfix satellite stations, which puts GEODNET in a group of projects known as Decentralized Physical Infrastructure Networks (DePIN).
What GEODNET said the funding is for
GEODNET said it would use the funding to expand the network, scale its operations and keep improving the reliability of its station hardware and software.
Where precise positioning helps
Centimetre-level positioning matters in agriculture, construction, surveying, transportation and robotics, where machines and people need to know exactly where they are.
FAQ
How does GEODNET provide GNSS services?
GEODNET delivers corrections through its network of reference stations, which numbered over 4,300 at the time of the announcement. Community members deploy the stations under the DePIN model, which helps make GNSS data more accurate, reliable and available across many regions.
Sources
- https://geodnet.com
- https://medium.com/borderless-capital/borderless-leads-a-1-5m-investment-into-geodnet-to-bring-high-accuracy-positioning-to-the-masses-ccd2c1b9ce97
- https://twitter.com/GEODNET_/status/1762832718327361794
Gear for a GEODNET rooftop install
We don't have GEODNET stations in stock right now; read about the network on our GEODNET page. A GEODNET station comes with its own satellite antenna and cable, but a solid, high mount with a clear view of the sky is up to you. These in-stock parts can help:
- L-type wall mounting pole for a wall or parapet
- I-shaped vertical mounting rod to lift the antenna above the roofline
- U-shaped hoisting pole
- All mounts and antenna accessories
Check that the mount suits your antenna's bracket before you order, or ask us using the chat button. Running a LoRaWAN gateway on the same roof? See our 915 MHz antenna buying guide.
