Decentralized Network Infrastructure Firm Geodnet Raises $3.5 Million

According to Foresight News, decentralized network hardware infrastructure company Geodnet has completed a $3.5 million funding round led by North Island Ventures, with participation from Modular Capital, Road Capital, Tangent, Reverie, and existing investors Borderless and IoTeX. Geodnet is a community-based DePIN project, allowing anyone to contribute to the network by installing and operating Satellite Miners. Foresight News previously reported in July 2023 that Geodnet had raised $1.5 million, with investments from Borderless Capital's Web3 investment fund EdgeFi Fund, IoTeX, and a group of angel investors.