Hamburg-based Natix Network, a decentralised network of cameras creating real-time maps of cities, has raised $3.5 million in Seed funding to launch its first mobile app Drive& and build its team while developing the network.
The round was led by Blockchange Ventures, and includes XYO, Mysterium Network, CVVC, Mulana Capital, and Blockarm Capital, with previous investors Techstars, Plug and Play Ventures, and CoinIX Capital.
The Natix Network is a blockchain-based and crowdsourced camera network creating a real-time map of the world. This Decentralised Physical Infrastructure Network (DePIN) of cameras uses Natix’s AI technology to map the world whilst at the same time ensuring that no private data is collected.
“We’re excited about the potential for companies like Natix to use DePINs to reduce costs and hurdles associated with physical infrastructure. Natix is making it easy and accessible to crowdsource critical geospatial data about roads and cities, just by using existing smartphone cameras. They can do this in a compliant and privacy-focused manner and make that data available to local governments and mobility companies with additional insights layered on top. We look forward to working closely with Alireza and the Natix team to support them on this journey,” says Ken Seiff, Managing Partner at Blockchange Ventures.
Its Drive& app is a drive-to-earn mobile app. While collecting geospatial data through the dashboard mounted camera it has AI software to collect data like the volume of traffic on the road, objects such as traffic signs, and infrastructure damages including potholes and faded road markings.
“DePIN is a hot topic as it will enable companies to build physical (sensor) networks 10-100x faster. With Drive& and our mobile-first approach, we believe we can build such a network quicker and on a larger scale. We’re enabling citizens to play a part in improving their cities through their smartphones and get rewarded for it,” says Alireza Ghods, co-founder and CEO of Natix.
“In the future, cities and mobility companies will be able to use this data to transform their operations and improve existing infrastructure at a fraction of the cost. We’re excited about the potential of this technology to improve our world for the better and we’re delighted to have the support of our new and existing investors to make this a reality,” adds Ghods.
Would you like to write the first comment?
Login to post comments