Today, we are pleased to announce that NATIX Network has recently closed a $3.5 million seed round from leading VCs and Blockchain players. The round was led by Blockchange Ventures and included several other investors, such as CVVC, Mulana Capital, Blockarm Capital, and two influential figures in the DePIN industry - XYO and NectoLabs. The new investors join other well-known existing venture capitals, including Techstars, Plug and Play Ventures, and CoinIX Capital. In the rapidly evolving Decentralized Private Infrastructure Network (DePIN) industry, NATIX Network is forging a new path in revolutionizing dynamic mapping with the Internet of Cameras. We are grateful for the trust and support of our investors and community, and we look forward to reaching new heights in our development.
Founded in 2020 in Germany, NATIX is dedicated to developing a computer vision platform that prioritizes privacy. We believe that AI technology should enhance people's quality of life without compromising their personal privacy.
Our patent-pending AI technology is the most user-friendly way to transform any camera into a smart, fully privacy-compliant device. Our patent allows smartphone cameras to scan their surroundings and detect events (such as crowd size or parking availability) without capturing any personal data, such as faces or license plates. This means that camera owners can create real-time digital maps of any area while protecting individual privacy.
Our technology has been trusted by renowned organizations such as E.ON, Deutsche Telekom, and the City of Den Haag, all of whom have benefited from our range of products.
At NATIX, we recognized that privacy was not the only hurdle preventing widespread camera use in public spaces. Another major barrier was the high cost of infrastructure. Installing, operating, and maintaining the 1 billion public and commercial CCTV cameras worldwide has cost more than $6 trillion. In addition, hardware or software maintenance can lead to downtime, resulting in costly or significant data gaps.
To address these challenges, we developed NATIX Network with Decentralized Physical Infrastructure (DePIN) in mind. Our goal is to provide a solution that addresses the cost of infrastructure and personal data privacy concerns that are associated with using cameras at scale.
By combining our AI technology with the existing 45 billion cameras worldwide, NATIX Network creates the largest crowd-sourced camera network ever. Most smartphone cameras can run our AI software, collect metadata, and generate a Dynamic Map of the world that is constantly updated as new data is collected from the network.
Drive& is an innovative driver companion app that rewards users for every street crossed and city navigated. By allowing their smartphone cameras to map the world, drivers can earn points that can be converted to our native token or products and services such as vouchers, electronics, or charity donations. The app also provides a range of driver-assistant features, including a dashcam, speed-trap alerts, navigation, and more additional features planned such as parking space availability.
Drive& is one of the first products of the NATIX Network, targeting over 1.5 billion smartphones with AI-accelerated chips and more than a billion drivers worldwide. The smartphone-based approach allows the company to scale the network even faster, removing the need to pay for special hardware to become part of the NATIX Network and its data economy.
The app utilizes AI software optimized to run on smartphones with minimal computational power. By using the camera, the AI can detect dynamic map data such as traffic participants such as cars, bikes, and pedestrians, traffic objects like traffic signs, traffic lights, and even damages on the road surface such as potholes, cracks, and faded road markings. The AI converts this data to numeric form, ensuring that no personal identifiable information is at risk. As a result, the app is privacy compliant, and no images, videos, or sensitive data ever leaves the phone.
We recently launched the Drive& app on Google Play, which has been received with immense enthusiasm and eagerness by our Web3 community. Within just 24 hours of its release, the app has already attracted more than 2,100 registered users and logged an impressive 14,000 km of mapped terrain. An iOS version of the app is also in the works and will be available soon, further expanding our user base and solidifying our position as a leading innovator in the computer vision and mapping space.
We are excited to put this newly raised capital to work and continue to revolutionize mapping with our crowdsourced and tokenized Internet of Cameras. We look to expand the Drive& mobile app with new features and develop new NATIX Network products coming up throughout the year. We will also be working with Web3 partners to create a more significant and more synchronized movement around the Web3 geospatial data market.