The multicoin cryptographic investment firm is leading a purchase of $ 8 million of GEOD tokens, an important capital injection into the cryptographic project that builds a hyper-precise alternative to GPS.
Geodnet comes from the cryptography displacement wing of new companies that financially encourage regular people to organize their physical infrastructure. The token of the project (its incentive mechanism) has more than duplicated in the last 12 months in the middle of the torrid demand for Geodnet services.
The GPS satellites that tell your phone about how far it is from the next intersection are quite good to drive around the city. It is not so for the Geodnet user base for agricultural drones and industrial robots, said Mike Horton project leader. They need location data “to the size of a golf ball”.
Almost 14,000 base stations provide location data at the centimeter level to Geodnet customers, many of which are alien to their cryptographic incentives: anyone who runs a base station of $ 700 wins new tokens geod, a model that changes the cost normally Astronomical to deploy equipment away from the company.
“Due to Depin, we have been able to climb this crazy quickly,” Horton said. “We build two years in what the industry has been working for 20 years, and now we have twice the stations as any other person.”
The cheap geospatial network of Multicoin’s Betting Geodnet covers everything will help facilitate the explosive growth of technologies that need precise location data, particularly robots: autonomous vehicles, delivery drones, autonomous agricultural equipment.
“For these robots to work, they must answer a fundamental question: Where am I?, Wrote Multicines Shayon Senguta’s investment partner in a position document.
Existing Geodnet customers are promoting more than $ 3 million in annual recurring income, Horton said. He is pointing to the growth of 2025 in India and South America, particularly in the agricultural sector.
Investors are calling funds a “strategic” investment in which they bought tokens geod directly from the Geodnet Foundation, the entity behind the network. Geodnet raised the capital in April 2024 of Coinfund, Pantera and Vaneck.
“We are raising money to really focus on robots and drones,” Horton said.
