Hivemapper raises $32M for DePIN mapping project

Hivemapper, a decentralized mapping project built on Solana, has raised $32 million in a funding round led by Pantera Capital, LDA Capital, and Borderless Capital, CoinDesk reported. The investment marks the largest amount raised in the Decentralized Physical Infrastructure (DePIN) sector this year. The project rewards contributors with its native token, HONEY, for collecting street-level imagery. The new capital will be used to improve its AI models and increase incentives for HONEY contributors.