GEODNET Foundation, the organization overseeing the GEODNET positioning network, has secured $8 million in a strategic funding round. This investment, led by Multicoin Capital with participation from ParaFi and DACM, brings the project’s total financing to $15 million. The funds will be allocated to support the network’s expanding customer base and develop new applications in robotics and physical artificial intelligence.

Real-time kinematics (RTK) is a navigation technique that enhances satellite-based positioning systems to achieve centimeter-level accuracy in real time. According to GEODNET, the company has established itself as the world’s largest RTK network, with more than 13,500 user-deployed reference stations across 4,377 cities in more than 142 countries. These stations provide high-precision location services for various autonomous systems, including trucks, construction vehicles, agricultural equipment, UAVs and robotic lawnmowers.

GEODNET said its network had experienced significant growth, with its on-chain annual recurring revenue expected to increase by more than 400% compared to the previous year. This growth is attributed to the onboarding of new users, including large industrial companies, governmental organizations and enterprises.

The robotics market is projected to expand to more than $200 billion in revenue by 2030, according to studies from GlobalData. Precision location services are crucial for the training and operating of autonomous robots, UAVs and humanoid robots in complex environments. GEODNET aims to provide the necessary data for these systems to navigate safely and autonomously, both individually and in cooperative swarms.

The GEODNET network consists of reference stations that receive GNSS signals. Each station can deliver precise RTK correction data to devices within a range of approximately 20 km to 40 km. Any device equipped with a GNSS receiver — such as cars, UAVs, mobile phones, or tractors — can connect to the GEODNET network.

GEODNET supports multiple reference stations, including HYFIX’s MobileCM Triple-Band GNSS base station. Network contributors can earn GEOD tokens for hosting base stations. The GEOD token is live on the Solana blockchain, and the GEODNET Foundation is supported by several prominent blockchain and DePIN 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.