[PRESS RELEASE – New York, CA, February 25th, 2025]
The GEODNET Foundation, steward of the world’s largest precision positioning network, has announced a significant milestone in its growth with an $8 million strategic funding round, led by Multicoin Capital and supported by ParaFi and DACM. This investment brings the total financing for the project to $15 million, supporting its ongoing commitment to enhance real-time kinematic (RTK) networks for autonomous robotics manufacturers.
Real-time kinematics (RTK) technology significantly enhances the accuracy of positioning data derived from satellite systems like GPS. Recently, GEODNET achieved a remarkable feat by becoming the largest RTK network globally, boasting over 13,500 user-deployed reference stations across 4,377 cities in over 142 countries. This extensive network facilitates precise location services for numerous robotic applications daily, including autonomous trucks, construction machinery, agricultural tools, and various drones.
“GEODNET improves the accuracy, availability, and affordability of precision positioning for today’s intelligent robots,” remarked Mike Horton, founder of GEODNET. “With this new funding, we will aggressively expand our robotics ecosystem and accelerate support for new intelligent robots, both in consumer and enterprise applications.”
Over the past year, GEODNET has seen its on-chain annual recurring revenue grow by more than 400%. This expansion aligns with broader industry trends, as the robotics market is expected to exceed $200 billion in revenue by 2030. Precision location services are critical for training and operational deployment of autonomous robots, and GEODNET is uniquely positioned to provide the necessary data for safe, precise navigation in complex environments.
“GEODNET has joined the ranks of other successful DePINs like Helium and Hivemapper, solving real-world problems,” said Kyle Samani, Managing Partner of Multicoin Capital. “We are excited to support GEODNET’s mission to enable the future of robotics, which holds immense potential across multiple industries.”
GEODNET’s network of reference stations plays a vital role in delivering precise RTK correction data to devices, enhancing the capabilities of GNSS-equipped technologies, from cars and drones to mobile phones and agricultural machinery. The inclusion of advanced stations, such as HYFIX’s MobileCM Triple-Band GNSS Base Station, further exemplifies the foundation’s commitment to delivering high-quality services.
For manufacturers of robotic dogs and humanoid robots, GEODNET is prioritizing partnerships to enhance the robotics ecosystem. Interested parties can engage with the foundation through their website for more information or to sign up for a complimentary 30-day trial.
GEODNET, operating on the Solana blockchain, is backed by a diverse range of esteemed investors in the cryptocurrency and blockchain sectors, underscoring its robust position as a leader in precision positioning technology.
For further details about GEODNET and its groundbreaking advancements in precision positioning for robotics, please visit GEODNET’s official website.
About GEODNET
GEODNET represents the preeminent standard in precision positioning networks, augmenting on-device sensors to furnish AI-driven autonomous systems with real-time, centimeter-level location data. It’s a leading entity in the DePIN ecosystem, defined by its commitment to innovation and excellence.
About GEODNET Foundation
The GEODNET Foundation is a Singapore-based non-profit dedicated to nurturing the GEODNET network and fostering collaboration among contributors, users, and developers in the realm of precision robotics.
About Multicoin Capital
Multicoin Capital is an investment firm specializing in cryptocurrencies and blockchain ventures, poised to unlock the potential of digital assets through strategic partnerships and market insights.
