Quick take:
Blockchange Ventures led the round with participation from Protocol Labs and Dapper Labs.
The company uses blockchain technology to provide near-zero emissions and a highly scalable network of drone imagery.
The company is building a network of drone pilots to capture and deliver “frequently updated, data-rich earth.”
Spexi, a global drone imagery network using blockchain technology to incentivise pilots to contribute to an imagery database has raised $11.5 million in a Series A funding round led by Blockchange Ventures. The fundraising also attracted participation from Protocol Labs and Dapper Labs.
Spexi is also leveraging blockchain technology to provide its service with near-zero emissions while also enabling it to scale the network. According to a press release shared with NFTgators, the company’s “Fly-to-Earn” model encourages pilots to contribute to an imagery database, minting each flight as an NFT for authenticity, streamlining crypto native rewards.
“With our ability to scale rapidly and deliver superior data with near zero emissions, I am proud that we are not only supporting essential government and emergency response services at a fraction of the usual cost but also driving the future of AI and metaverse-powered technologies across industries globally,” said Bill Lakeland, CEO of Spexi.
Spexi claims its imagery data can be adapted to address the drawbacks of using traditional imagery data captured by aeroplanes and satellites in emerging industries like autonomous systems, smart infrastructure, and AR/VR gaming.
According to the announcement, “the data collected by Spexi is immediately accessible to clients, providing 900 times the detail of traditional satellite imagery at a fraction of the cost.”
Ken Seiff, Managing Partner of Blockchange Ventures commented: “Spexi has defined a new category of business by pairing better and cheaper drone imagery with the blockchain’s ability to ensure image integrity. Spexi is not simply replacing existing satellite imaging use cases, but opening entirely new markets in geospatial, insurance, AI, public safety, government, gaming, and more.”
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