Digital Infrastructure, Inc., a NYC-based company focused on building the DIMO network, raised $9m in funding.
The round was led by CoinFund, Variant Fund, Slow Ventures, Table Management (Bill Ackman), Wonder Ventures, Streamr, Stratos Technologies, Lattice, and angels including Rick Wagoner (fmr. CEO of GM), Mark Joseph (CEO, Mobitas Advisors), Trevor McFederies (CEO, Brud), Amir Haleem (CEO, Helium), Kiran Bhatraju (CEO Arcadia), Ro Gupta (CEO, Carmera), Michael Cena (CEO, 3Box Labs), Jake Chervinsky (Head of Policy, Blockchain Association), Packy McCormack (Not Boring Capital), Mason Borda (CEO, Tokensoft).
The company plans to use the proceeds from the financing round to:
- Open-source its core software platform and release an SDK for developers to build applications using DIMO hardware.
- Add hardware supply and support the production of additional DIMO-compatible devices.
- Seed apps and services for target groups like EV manufacturers and electric utilities, helping vehicles charge with clean power, and helping drivers figure out how to switch to zero emission vehicles.
- Further decentralize the project to facilitate governance by: drivers, public and private fleets, and app developers.
Led by Andy Chatham and Yevgeny Khessin, Digital Infrastructure is a user-owned IoT platform that allows users to maximize the value of their connected devices, starting with cars. Inspired by Helium, Streamr, IPFS, Ethereum, it allows users to create verified data streams from devices they own and share them with applications privately and without exploitative middlemen.
Since launching App.Dimo.Zone in December of 2021, Digital Infrastructure has seen over 17,000 vehicles added, demand from over 700 fleets, and dozens of mobility services companies have begun to build on the platform.
2,500 DIMO-enabled Data Miners have been pre ordered through Shop.Dimo.Zone, and the first units have already been delivered and installed in consumer vehicles. This device enables any car to establish a private, secure hardware connection to the DIMO network, allowing users to add connected vehicle functionality to their vehicle, and opt-out of default options provided by OEMs.
Users earn rewards and access apps by connecting their cars to DIMO and streaming data into Mobility Data Unions. This allows users to negotiate for better goods and services while maintaining privacy, and it allows enterprises and developers to access customers more efficiently.
FinSMEs
15/02/2022