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The Decentralization high-precision map protocol ROVR Network has completed a $2.6 million seed round financing.
PANews, April 30 - According to BlockchainReporter, the decentralized high-precision map protocol ROVR Network has completed a $2.6 million seed round financing, led by Borderless Capital and GEODNET, with participation from institutions such as IoTeX. The project combines LiDAR laser radar and Real-Time Kinematic (RTK) positioning technology to provide the autonomous driving industry with centimeter-level precision open-source map data solutions. Guang Ling, the founder of ROVR, stated that this round of funding will be used for global hardware deployment and community-based data collection. The project has simultaneously launched the issuance of the native token ROVR, which is based on the Solana chain and adopts a deflationary model—data sales revenue will automatically trigger the token burn mechanism. ROVR and GEODNET will establish a joint office in Silicon Valley to integrate both parties' technical resources in spatial positioning and 3D modeling.