This is a traditional Bay area start-up, which raised 20M to build this product. It solves a real world problem by it's unique approach of decentralized mapping in partnership with Helium and Solana.
PROBLEM:
Google/Apple maps have a few problems.
- Maps are older(1 year for San Francisco, 2 year for Austin, 5 years for Africa).
- It is very costly to refresh the map data (cost billions to refresh the whole map).
- These maps doesn't help certain markets/users who need a better map.
SOLUTION: Hivemapper solves these problems by decentralizing the mapping process. It gives regular folks who drive a lot a dashcam which captures high quality images while they drive. Which makes the maps a lot fresh and much cheaper to map the whole world. In the process, community earns Honey tokens and become partial owner of the company.
MONETIZATION: They will monetize the map through below potential customers of the map data.
- Logistic company Fedex/Trucking etc- Save them 2 to 3 minutes per delivery. HiveMapper's map will pin point exact location where to deliver. It may not necessarily be the front of an apartment building which google map provide at present.
- Assisted driving- Proving lane details, accurate speed limit, which lane to use etc.
- Uber/ Lift (They pay 80M to100M per year to google for older map data).
- Consumer real estate -Getting area map and pictures which is not 2/3 year old.
- Other mapping companies - Fixing gaps in their map through fresh images from Hivemapper.
Overall it's a great idea and could potentially become huge. They have learned from Helium and aligning the use cases before starting. Show Less
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