onocoy Secures Strategic Funding to Revolutionize High-Precision GPS Infrastructure with Blockchain Technology

onocoy, a cutting-edge venture focused on high-precision GPS technology utilizing a decentralized physical infrastructure network (DePIN) powered by blockchain, has announced a major funding milestone. The company has secured over $940,000 in a private token sale from a select group of strategic investors, bringing its total funding to over $4.2 million.

This funding round was backed by several industry leaders, notably Thomas Seiler, the former CEO of GPS hardware giant u-blox, who joins onocoy as an advisor. His extensive experience in the GPS sector is expected to play a pivotal role in guiding onocoy’s strategic growth. Other prominent investors include Smart Island Capital, a key player in the Web3 DePIN sector, alongside various business angels specializing in IoT and blockchain technologies.

Daniel Ammann, Co-founder and President of onocoy, hailed the funding round as a critical step forward for the company. “This step marks an important moment for onocoy as we continue to gain momentum,” Ammann said. “The support from strategic investors underscores the confidence in our vision and the transformative potential of our technology. We are also in advanced discussions with additional key industry players and look forward to announcing further strategic partnerships in the near future.”

The newly secured funds will be instrumental in scaling up onocoy’s commercial services, supporting the upcoming token launch, and financing further development of its products, ecosystem, and community. onocoy’s groundbreaking approach integrates advanced blockchain technology with decentralized physical infrastructure, significantly enhancing the existing Global Navigation Satellite System (GNSS) infrastructure. The venture addresses the industry’s challenge of network bootstrapping by providing a highly dense, cost-effective single-base RTK correction network with a vertical-agnostic approach.

onocoy’s technology is expected to impact a wide range of industries, including construction, precision agriculture, and surveying—sectors where the total addressable market is estimated at $250 billion. The company also anticipates substantial growth from emerging fields such as drones, autonomous vehicles, and robotics.

About onocoy

onocoy is at the forefront of a decentralized revolution, pioneering a global high-precision GPS/GNSS network powered by blockchain and DePIN principles. This innovative approach aims to enhance the efficiency and reliability of existing GNSS infrastructure, offering transformative solutions for industries like construction, precision agriculture, and surveying, with significant potential in emerging sectors like autonomous vehicles and robotics. Founded in 2021, onocoy is headquartered in Zug, Switzerland.

Photo by Boris Baldinger on Unsplash

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