GEODNET concludes $2M investment round

April 22, 2024  - By


The GEODNET Foundation has received more than $2 million of strategic investments from new investors including CoinFundPanteraVanEck and Santiago R. Santos. The additional funds raised will support the Foundation’s near-term objectives of decentralization and developer accessibility.

GEODNET, the company’s blockchain-based global navigation network, has more than 5,000 GNSS reference stations added to its real-time kinematic (RTK) network, designed to enhance location and intelligent autonomy services. Standard GPS is typically off by two meters; however, devices connected to GEODNET’s global RTK network are designed to achieve instant accuracy within 1 cm to 2 cm.

The network can be used in agriculture, UAVs, consumer robotic devices and commercial global positioning services such as PPP precision point positioning (PPP), automotive-focused PPP-RTK services and low-Earth orbit satellite tracking.

GEODNET has more than 4,000 registered reference stations in more than 2,500 cities across 120 countries. It is designed to provide robust precision navigation systems to a variety of industries, including self-driving cars, agriculture, consumer robots, and more. An additional 2,000 stations are being delivered and installed.