Decentralized Mapping Platform Natix Secures $4.6 Million in Funding

Natix Network, a decentralized mapping data infrastructure provider, has secured $4.6 million in funding led by Borderless Capital, Tioga Capital, and others. The funding will support the launch of Natix's native token on Solana in Q2 and an airdrop of 1 billion tokens to users upon achieving specific mapping milestones. Natix aims to collect real-time geospatial data through its Drive&Earn app, which allows users to contribute data using smartphones and driver assistance applications.

Decentralized Mapping Network, Natix, Secures $4.6 Million in Strategic Funding Round

Introduction

Natix Network, a decentralized physical infrastructure network (DePIN) specializing in mapping data collection, has successfully raised $4.6 million in a strategic funding round. This funding surge will fuel Natix's mission to provide real-time geospatial mapping data, revolutionizing the mobility and autonomous driving industries.

Investment Details

Borderless Capital led the investment round, with Tioga Capital serving as co-lead. Several notable investors also participated, including Nomura's Laser Digital, Big Brain Holdings, Escape Velocity, IoTeX, WAGMI Ventures, and Moonrock Capital. Angel investors, such as James Parillo (Figment Capital), Gracy Chen (Bitget), Vijay Pravin Maharajan (bitsCrunch), and Paul Taylor, also joined the round.

Total Funding and Valuation

This strategic funding round brings Natix's total funding to date to an impressive $9.6 million. The company previously raised $3.5 million last year and approximately $1.5 million prior to that. Natix's co-founder and CEO, Alireza Ghods, declined to provide details regarding the round's structure and valuation.

Solana Token Launch and Airdrop

Concurrent with the funding announcement, Natix unveiled plans to launch its native NATIX token on the Solana blockchain in the second quarter of this year. The token will serve as an integral part of the Natix ecosystem, enabling users to participate in data collection and governance.

Furthermore, Natix intends to airdrop 1 billion NATIX tokens to users in batches. This airdrop, representing 1% of the token's total supply of 100 billion, will reward early contributors to the network.

Natix: A Decentralized Mapping Platform

Natix operates as a DePIN project, dedicated to collecting real-time geospatial or mapping data. Through its innovative mobile application, Drive&Earn, Natix empowers users to contribute mapping data using smartphone cameras and driver assistant apps like dashcams and navigation systems.

The collected data holds immense value for mobility firms and the autonomous driving industry. It assists in optimizing operations, enhancing infrastructure, and improving safety for connected and autonomous vehicles.

User Base and Geographic Reach

Natix has amassed a significant user base, with over 92,000 registered drivers who have actively mapped more than 28 million kilometers since the Drive&Earn app's launch in April 2022. Ghods highlighted that over 90% of their users are located in key regions, including the U.S., Canada, the U.K., Central Europe, and East Asia (Japan, South Korea, Hong Kong, etc.).

In-App NATIX Rewards and Token Conversion

In recognition of their data contributions, Natix users currently receive "in-app NATIX," a non-cryptocurrency, at the end of each month. After the token launch, users will be able to convert their in-app NATIX to the Solana-based NATIX token.

Token Airdrop Milestones

The first batch of the 1 billion token airdrop will occur when Natix achieves its initial target of mapping 100 kilometers. Ghods anticipates reaching this milestone by July, setting the stage for regular airdrops as subsequent milestones are achieved.

Multi-Chain Approach and Differentiation from Competitors

Natix's token will launch on the Solana blockchain, but its platform maintains a multi-chain approach. The company leverages Peaq's DePIN components, such as multi-chain machine ID and data verification, for its platform's backend infrastructure.

In contrast to its closest web3 competitor, Hivemapper, Natix does not require users to purchase dedicated hardware. Users can seamlessly join the network using their smartphones. Additionally, Natix's Drive&Earn app consumes significantly less data (up to 99%) compared to its competitors.

Team Expansion and Future Plans

Natix currently employs 20 individuals and plans to expand its team with the newly acquired funding. In the coming months, the company intends to hire additional engineers and business development professionals.

Conclusion

The successful strategic funding round for Natix Network underscores the growing demand for decentralized mapping data solutions. Natix's innovative approach, coupled with its user-centric rewards system and multi-chain strategy, positions it as a promising player in the emerging DePIN landscape.