Borderless Capital invests in GEODNET Foundation to support decentralized location services

July 10, 2023 - By Maddie Saines

Image: GEODNET

Borderless Capital has invested in the Global Earth Observation Decentralized Network (GEODNET) Foundation via its EdgeFi Fund, the first web3 investment fund focused on decentralized physical infrastructure networks. The investment will be utilized to strengthen GEODNET’s mission with emphasis on growing reliable global coverage and a mobile operating-system software development kit.

The GEODNET Foundation manages the open network protocol and promotes service usage within the traditional GNSS and IoT industry.

With more than 3,000 reference stations online in every major continent, the real-time GEODNET network is the largest decentralized geospatial reference network. The GEODNET location service offers reliable centimeter-accurate location for applications such as UAVs, robotic vehicles, augmented reality, and IoT/mobile devices.

GEODNET station data is actively utilized by companies such as Hemisphere GNSS, Quectel Wireless Solutions and Rock Robotic. GEODNET stations owners set up a satellite mining station and are rewarded with the project’s native polygon token, GEOD.