GEODNET Raises $8M In Strategic Round Led by Multicoin Capital to Equip Humanoid Robots With Centimeter-Level Accuracy
New York, CA, February 25th, 2025, Chainwire
Leading DePIN Grows Revenue 400% YoY, Expands Real-Time Kinematic (RTK) Network To Autonomous Robotics Manufacturers
GEODNET Foundation, the primary steward of GEODNET, the world’s largest precision positioning network, today announced an $8M strategic round led by Multicoin Capital with participation from ParaFi and DACM, bringing the project’s total financing to date to $15M. The foundation will use the capital to service the network’s rapidly growing customer pipeline and support new robotics and physical artificial intelligence (AI) applications and customers.
Real-time kinematics (RTK) is a navigation technique that enhances positioning data from satellite-based systems—such as GPS, GLONASS, Galileo, or BeiDou—to achieve real-time, centimeter-level accuracy. GEODNET recently became the largest RTK network in the world and now boasts more than 13,500 user-deployed reference stations across 4,377 cities in more than 142 countries. These stations provide precision location services to thousands of robots daily, including autonomous trucks, construction vehicles, agricultural equipment, drones, robotic lawnmowers, robotic marine vehicles, and much more.
“GEODNET improves the accuracy, availability, and affordability of precision positioning for today’s intelligent robots. The network provides a 100x improvement in location accuracy compared to GPS alone, and is a perfect companion to on-device sensors, such as Cameras, LiDAR, and IMUs. GEODNET is helping make the dream of intelligent drones and robots a practical reality today,” said Mike Horton, founder, 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.”
GEODNET customers and partners include large industrial companies, governmental organizations, and enterprises, such as Propeller, DroneDeploy, Quectel, USDA, HemisphereGNSS, Septentrio, and others. As new customers have been onboarded over the past year, the network’s on-chain annual recurring revenue has grown by more than 400% in 2024.
According to recent studies from GlobalData, the robotics market aims to expand to over $200B in revenue by 2030 as more autonomous robots, drones, and dog – and humanoid robots come online. Precision location services are essential for training these robots and operating them in the field; GEODNET equips these robots with the data they need to safely and autonomously navigate complex environments with a high degree of precision, both individually and in cooperative swarms. GEODNET is currently prioritizing partners who manufacture robotic dogs and humanoid robots. Interested customers can either contact the foundation or sign up for a free, 30-day trial.
“GEODNET joined the ranks of other successful DePINs like Helium, IO Net and Hivemapper this year. They all have found product-market fit and are solving large, real-world problems,” said Kyle Samani, Managing Partner of Multicoin Capital. “We are proud to support GEODNET’s vision to enable the pervasive robotics; the future of robotics and physical AI holds tremendous potential and is poised to revolutionize multiple, multi-billion-dollar industries.”
The GEODNET network consists of reference stations, which receive signals from the Global Navigation Satellite Systems (GNSS). Each station is capable of delivering precise RTK correction data to devices within a range of approximately 20-40 kilometers. Any device equipped with a GNSS receiver, such as a car, drone, mobile phone, or tractor, can connect to the GEODNET network.
GEODNET currently supports multiple reference stations, including HYFIX’s MobileCM Triple-Band GNSS Base-Station, a ready-to-use Geodetic Grade GNSS base station. Network contributors can earn GEOD tokens for hosting base stations.
GEOD is live on Solana and the GEODNET Foundation is backed by some of the blockchain and DePIN’s most respected investors, including Borderless Capital, Multicoin Capital, ParaFi, DACM, CoinFund, Pantera, VanEck, Animoca Brands, Finality Capital Partners, Tangent, North Island Ventures, Modular Capital, Road Capital, Reflexive Capital, Reverie, IoTeX, JDI, SNZ, and Santiago R. Santos.
To get involved or learn more about GEODNET, users can visit https://geodnet.com.
About GEODNET
GEODNET is the world’s largest precision positioning network. GEODNET’s global network of RTK stations complements on-device sensors such as Cameras, LiDAR, and IMUs to equip AI-based autonomous systems with real-time, centimeter-level location data. GEODNET Network provides cryptographic guarantees of data transmission, location servicing, and data ownership authenticity. GEOD is live Solana and the network is one of the leading DePIN projects in the ecosystem. To get involved or learn more about GEODNET, users can visit https://geodnet.com.
About GEODNET Foundation
GEODNET Foundation is a Singapore-based non-profit organization dedicated to maintaining GEODNET, the world’s largest precision positioning network. The Foundation helps coordinate network contributors, end-users, and core developers through programs, grants, and events. The Foundation’s mission is to enable pervasive robotics and power our intelligent future. To learn more about GEODNET Foundation, users can visit https://geodnet.com.
About Multicoin Capital
Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies. Crypto networks and companies will create trillions of dollars of value over the next decade. However, investing in tokens is fundamentally different than investing in companies. New tools, heuristics, and security measures are needed to responsibly invest in this ecosystem. We leverage our deep understanding of blockchain technology and crypto markets to deliver exceptional returns. For more information, users can visit: https://multicoin.capital.