Hivemapper is a new decentralized digital mapping network that seeks to build a more accurate and comprehensive map of the world. The project was founded by developers from the team behind the Solana project, which aims to create a better way to manage data.
According to Hivemapper, its map will be more accurate because it will use crowd-sourced data gathered from devices across the globe. The network also plans to make its data available for free and without any restrictions.
The Hivemapper team is currently raising funds through an $M Series A round led by Multicoin Capital. Other investors in the round include Ribbit Capital, Blockchain Capital, and Electric Cloud Ventures.
How Does Hivemapper Work?
Hivemapper is a Berlin-based startup that wants to build a decentralized digital mapping network on Solana. The idea is to create an open, distributed platform that allows anyone to collaborate on mapping projects.
The company has already raised $M in seed funding from two investors – Multicoin Capital and 500 Startups – and it’s now looking for further investment.
Hivemapper intends to use the funds raised in this round of funding to expand the team and scale up operations. Chief among the priorities for the team is developing Hivemapper’s core product – a map building tool that allows users to collaboratively create maps.
In addition, Hivemapper plans to launch a marketplace that will allow third-party developers access to its mapping data. This will give them the opportunity to create new mapping applications using Hivemapper’s data.
What are the Uses of Hivemapper?
Hivemapper is a decentralized digital mapping network that wants to build a global map of everything. The network will be powered by Solana, the blockchain platform that was built on top of Ethereum. Hivemapper plans to use its mapping data as a foundation for new technologies and services, such as location-based advertising and privacy protection.
The $M Series A Funding
Hivemapper has raised an $M Series A led by Multicoin Capital (Andrew Hayward/Decrypt). Other notable investors in the round include Y Combinator’s Paul Graham and Fred Wilson, Obvious Ventures, and Union Square Ventures. The funding will be used to accelerate development of the Hivemapper platform and expand its team.
What Makes Hivemapper Unique
There are many decentralized digital mapping networks out there, but Hivemapper stands out because it plans to integrate with existing services and infrastructure. For instance, the network could help users find their way using GPS coordinates or directions from Google Maps. Additionally, the data generated by Hivemapper could be useful for location-based advertising and other activities that require accurate tracking of user movements.
Why Did Multicoin Capital Invest in Hivemapper?
Hivemapper, which wants to build a decentralized digital mapping network on Solana, has raised an $M Series A led by Multicoin Capital. The funding will be used to further develop the platform and expand its team.
“We are excited to partner with Hivemapper as they continue to build a powerful and innovative platform,” said Andrew Hayward, Partner at Multicoin Capital. “The decentralized map data market is massive and growing rapidly, and we believe Hivemapper has the potential to become one of the leading players.”
Hivemapper is focused on building a robust map platform that can be used by individuals and businesses alike. The company’s goal is to make it easy for people to find what they’re looking for, without having to rely on centralized sources. This way, Hivemapper hopes to create a more democratic world where everyone can access information freely.
Hivemapper already has a number of partners lined up, including Uber, Airbnb, and Yelp. The platform is also in alpha mode now, so users can start using it right away.
Conclusion
Hivemapper, a decentralized digital mapping network that wants to build a map of the world, has raised an $18M Series A led by Multicoin Capital. Other investors in the round include Index Ventures and Slow Ventures. The company says it plans to use the money to expand its staff and develop new features for its platform.