The decentralized mapping service behind startup Hivemapper has received $18 million in funding. Series A funding round led by Multicoin Capital.
“At long last, Web3 makes a push to fight Google Maps” Informative article by @refsrc for @TechCrunch announcing @Hivemapper‘s latest funding round and updates! Read it here: https://t.co/Lsfuu02E3E #Blockchain #Mapping #Web3 #web3news
— Hivemapper (@Hivemapper) April 5, 2022
Investors also include Craft Ventures, Solana Capital, Shine Capital, 75 & Sunny Ventures, Spark Capital, Founder Collective and Homebrew.
The Hivemapper mainnet is scheduled to launch this summer.
The principle of operation of the Hivemapper application, based on Solana, is to reformat recordings from DVRs into maps in the format 4K. Participants take pictures of the streets, for which they are rewarded with a native HONEY token. For similar incentives, editors process the received data, providing quality control.
In July, the company will start deliveries of the developed platform-enabled device.