Bee Maps Raises $32M to Expand Decentralized Mapping Network
Bee Maps, a decentralized mapping network, has raised $32 million in a Series A funding round led by Pantera Capital. This significant investment reflects the convergence of AI and blockchain in real-world data infrastructure.
The funding will support Bee Maps' expansion, enabling it to deploy more dashcams and enhance its AI models. This growth aims to address the supply-side crunch caused by increasing demand from clients such as Volkswagen, Lyft, Mapbox, and NBC.
Currently, Bee Maps' network is powered by Hivemapper, transforming street-level imagery into live geospatial data for various applications. The funding will also boost HONEY token rewards for contributors to the decentralized network. To make participation more accessible, Bee Maps has introduced a new $19 monthly Bee Membership plan, replacing upfront hardware costs.
With this substantial funding, Bee Maps is set to scale its decentralized mapping operation, improving route accuracy and real-time decision-making for its clients. The company has also bolstered its regulatory capabilities by acquiring the legal entity Oasis Pro, further positioning it for growth in the decentralized physical infrastructure (DePin) sector.
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