NATIX Network, an AI-based platform utilising edge computing for real-time geospatial data collection, has secured $4.6 million in strategic funding led by Borderless Capital, completing a total funding of $9.6 million. This investment, co-led by Tioga Capital and supported by various investors including, Escape Velocity, Big Brain, WAGMI Ventures, Inception Capital, Laser Digital, IOTEX, Moonrock Capital, Cogitent, Room 40 ventures, Veris Ventures, Future Money Group, iAngles, and individual angels, marks a significant milestone for NATIX as it aims to transform driver-led data collection and applications with innovative web3 incentives.
The advent of free navigation apps on smartphones has rendered the traditional, dog-eared road atlas a relic of the past. Previous generations would tuck these atlases into glove compartments or wedged beside driver seats, but now, the convenience and utility of digital navigation apps have overtaken their paper-based counterparts. Offering real-time updates on road layouts and live traffic information, these apps, exemplified by Google Maps with an estimated 1.3 billion regular users worldwide and Apple Maps boasting “hundreds of millions,” have become ubiquitous tools for navigation.
The dominance of Google Maps and Apple Maps, enriched with features like “street view” and live traffic data, has relegated other competitors to the periphery, establishing a near-monopoly in the navigation service sector. Despite their seamless user experience, these apps rely on specialized vehicles to update road layouts and conditions, resulting in delays in reflecting real-world changes.
Wave, another popular navigation app, which distinguishes itself by embracing a community-driven approach. By leveraging user-generated updates on current road conditions and changes, Wave aims to provide a more up-to-date service. However, this reliance on user input makes it susceptible to errors and necessitates active app usage and manual information input for feature updates.
Empowering individuals through DePINs
NATIX aims to disrupt the centralised monopolies in map data by empowering individuals through Decentralised Physical Infrastructure Networks (DePINs). By leveraging smartphone cameras and driver assistant apps, NATIX enables anyone with a vehicle and smartphone to contribute to the collection of real-time geospatial data without requiring special hardware. This democratisation of data collection has attracted over 92,000 registered drivers, covering more than 28 million kilometers in just one year.
“NATIX is emerging as a leader in commodity DePIN, establishing a benchmark for how incentivized models can effectively operate at scale,” said Alvaro Gracia, Partner at Borderless Capital. “We’re impressed by NATIX’s innovative use of smartphone cameras and AI-accelerated chips to build a network for crowdsourced geospatial data. Not only does it enhance scalability and simplify user onboarding but makes it easier to provide users with significant rewards and perks, boosting engagement throughout. This lays the groundwork for future innovative models in the industry.”
Driving innovation in geospatial analytics
The data collected by NATIX is invaluable for urban areas, mobility firms, and the autonomous driving industry, helping them optimise operations and enhance infrastructure. NATIX’s flagship product, “Drive&,” utilises smartphone cameras and driver assistant apps combined with innovative incentive mechanisms and privacy-respecting computer vision AI to crowdsource real-time data.
“It’s great to see NATIX gaining momentum, which reflects the strong market confidence in our vision. We are committed to accessibility, allowing anyone with a vehicle and smartphone to make meaningful contributions to their urban environment,” said Alireza Ghods, NATIX’s CEO and co-founder. “Looking ahead, collaborating with leading high-performance networks like Solana and Peaq is crucial for advancing our mission.”
Launching native token on Solana
NATIX plans to launch its native token $NATIX on Solana in Q2 of 2024, introducing new ways to earn rewards and enhancing platform governance and infrastructure. This launch will offer drivers premium features like airdrops, staking for data validators, and greater involvement in governance. Additionally, NATIX will leverage Peaq, a Layer-1 blockchain purpose-built for DePIN and machine RWAs, to enhance its architecture and solidify its role in Peaq’s extensive DePIN ecosystem.
Pioneering decentralised smart cameras
Founded in 2020 in Hamburg, NATIX is a decentralised network of smart cameras that uses AI-powered apps to detect objects, collect real-time geospatial data, and map the world without additional hardware. NATIX’s solution prioritises privacy by design, ensuring that no personal data is collected. Contributors to the network are rewarded with NATIX’s native cryptocurrency, $NATIX, to support better driving-assistant applications and improve mapping infrastructure.
With this funding and strategic partnerships, NATIX is poised to continue scaling its platform and driving innovation in the geospatial analytics market, ultimately benefiting drivers, businesses, and communities worldwide.
