NATIX Network has raised $4.6 million to expand its innovative geospatial data collection.
NATIX Network has raised $4.6 million in strategic funding to strengthen its efforts to challenge the tech giants’ grip on mapping data. This funding round, led by Borderless Capital and co-led by Tioga Capital, brings NATIX’s total investment to $9.6 million, reflecting growing investor confidence in NATIX’s cutting-edge technology.
Recognized as one of the fastest-growing Decentralized Physical Infrastructure Networks (DePIN) in Messari’s “State of DePIN 2023” report, NATIX uses AI and edge computing to enable real-time geospatial data collection. This approach allows over 92,000 registered users (mainly drivers) to contribute data using their smartphones without any special hardware.
The company’s flagship product ‘Drive&’ integrates smartphone cameras and driver assistance applications to crowdsource data. This innovation is pivotal for urban planning, mobility companies, and the autonomous driving industry that rely on accurate and timely geospatial data to improve operations.
In a move to expand the ecosystem, NATIX plans to launch a native token on the Solana blockchain in the second quarter of 2024. This will provide monetization opportunities for drivers and allow for greater user participation in platform governance. Additionally, the partnership with DePIN and Peaq, a blockchain aligned to machine real-world assets, aims to strengthen NATIX’s infrastructure to ensure robust data verification and governance mechanisms.
“NATIX is setting the benchmark for an incentivized and scalable model in the fast-growing geospatial analytics market, which is expected to exceed $200 billion by 2033,” said Alvaro Gracia, Partner at Borderless Capital.
Alireza Ghods, CEO and co-founder of NATIX, emphasized the company’s commitment to accessibility and innovation. “Our platform democratizes data collection, enabling anyone with a smartphone to participate and contribute to urban environments,” said Ghods.
Strategic investments from companies such as Borderless Capital, Tioga Capital, and many other partners highlight a significant shift in data collection toward decentralized solutions, potentially reshaping how geospatial data is collected and utilized globally.
The industry is watching closely as NATIX prepares to launch the $NATIX token and further integrates with Peaq’s blockchain solutions. These developments not only empower individual contributors, but also pave the way for more dynamic and participatory models in data collection and urban development.
Also Read: Peaq and NATIX Collaborate to Enhance Sensor Data Compensation While Maintaining User Privacy
