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, is excited to announce the completion of a $3.5 million seed funding round. The round was led by North Island Ventures, with participation from Modular Capital, Road Capital, Tangent, Reverie, and select angels, who join existing GEODNET backers Borderless, IoTeX and JDI Ventures.
GEODNET is a community-based Decentralized Physical Infrastructure Network . Anybody can contribute to the network by installing and operating a reference station known as a. Satellite miners deliver precise RTK correction data to devices equipped with GNSS receivers within a range of approximately 20-40 kilometers, and satellite mining operators benefit from building and being part of the network, by earning GEOD token.
“GEODNET is focused on improving GPS at scale”, said Mike Horton, GEODNET Project Creator. “We are thrilled to close this funding round which will accelerate our goals of providing affordable GPS augmentation services and raw GNSS reference streams for RTK uses cases around the world”.
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