Bee Maps secures US$32 million in new investment

Decentralized mapping project Bee Maps said on the 7th that it has secured US$32 million (about KRW 44.2 billion) in new investment. The funds will be used to expand its global contributor network and to upgrade its AI (artificial intelligence)-based map update infrastructure.

On the 6th (local time), CoinDesk reported that the round was co-led by Pantera Capital, LDA Capital, Borderless Capital, and Ajna Capital, and is considered one of the largest investments this year in the DePIN·Decentralized Physical Infrastructure sector.

Bee Maps is an application of the Hivemapper network that runs on the Solana (SOL) blockchain; when drivers collect real-time road data through AI-based dashcams, the network incorporates it into the map and contributors are rewarded with the native token 'Honey' (HONEY).

With the investment, Bee Maps plans to deploy more devices, strengthen AI models that analyze and update map data, and expand contributor incentive programs. Hivemapper co-founder Ariel Seidman said, "With this funding we will accelerate the worldwide deployment of devices, expand coverage, and strengthen the AI pipeline," adding, "There is sufficient demand, but the problem is supply."

Meanwhile, Bee Maps has introduced the 'Bee Membership' program to lower the entry barrier for new members. Through this, the initial hardware cost, which was about $600, is replaced by a $19 monthly subscription fee, allowing more users to participate in the decentralized mapping ecosystem.