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Spexi, the leading marketplace for high resolution drone-based geospatial imaging, has announced a US$5.5M funding round, led by blockchain-focused Blockchange Ventures with participation from Dapper Labs, Protocol Labs, InDro Robotics, Alliance Dao, and FJ Labs.
“We’re thrilled and honoured to be supported by some of the brightest minds in crypto, Web3, two sided marketplaces, and drones,” says Bill Lakeland, Chief Executive Officer of Spexi.
With the close of this Financing, Spexi has announced the launch of its next generation platform. Spexigon is the world’s first standardized, ‘Fly-to-Earn’ drone imagery platform powered by crypto. With a Fly-to-Earn model, Spexigon will leverage millions of recreational operators who will collect and upload high resolution imagery to the Spexi platform and be rewarded in crypto tokens while building a high-resolution base layer of the earth.
Led by geospatial industry experts Bill Lakeland and Alec Wilson, the next generation of Spexi’s technology addresses the challenges of scaling traditional drone platforms.
“Historically, drone imagery was collected on a project by project basis and therefore hard to scale. The complexity of collecting aerial imagery, managing hardware, training pilots and handling massive data sets have prevented drone use and imagery production at scale, but that’s about to change,” said Spexi COO Alec Wilson.
The proceeds from the Financing will be allocated to building the Spexi team and launching the Spexigon platform. Fort Capital Partners acted as financial advisors to Spexi on the Financing.