Investing in NATIX
NATIX is building an open geospatial intelligence network using smartphone cameras, edge computing AI, and blockchains to crowdsource real-time geospatial data. Imagine Waze, but supercharged with these technologies and real financial rewards.
Their flagship app, Drive&, enables users to earn rewards for exploring new places and contributing dynamic map content. The rewards can be products, discounts, or (soon!) their native token $NATIX.
NATIX aims to disrupt the $300+ billion geospatial data industry by combining mobile cameras, AI, and blockchain to offer more updated, less expensive, and more compliant spatial data. Their approach combines edge computing technology combined with AI/computer vision and a frictionless smartphone-focused GTM strategy whereby users can easily join and contribute to the network via their Android/iPhone app.
Advancements in mobile edge AI chips and computer vision makes the NATIX vision possible. In 2024, Deloitte expects sales of mobile edge AI chips to exceed 1.5 billion around the globe. Already, most modern smartphones sold are equipped with edge AI chips onboard. Apple introduced Core ML into its iOS devices in 2017 while Android introduced TensorFlow Lite into its devices since 2019. All of these devices could potentially become a node in the NATIX network, contributing to the training of targeted event detection (e.g., road construction).
The innovative use of ordinary smartphones to crowdsource geospatial data means not only scalability and simplifying user onboarding, but also a simple way to provide users with rewards and perks for their contributions.
NATIX is solving problems both on the business and tech side of geospatial intelligence data:
Business side: Today’s geospatial intelligence is locked in data silos preventing billions of dollars worth of new services to be created. In the UK alone, the government estimated that if these data were shared, it could create $7 to $14 billion in new services.
In addition, users are not fairly compensated for the data they contribute to mapping services like Google Maps. The value here can range in the hundreds of dollars per user annually, not to mention the income that user data contributes to ad tech companies, data brokers, ISPs, and any number of other entities that profit from user data without user compensation.
To compound the user abuse problem, current big tech dominating geospatial intelligence data can — at their whim — dictate new terms that hurt or destroy businesses using their APIs.
Tech side: We’ve all seen the Google Street View cars. While they also combine cameras and AIs to build a super sensor for geospatial intelligence, they are also very expensive (estimated > $200K/car). They also don’t update images frequently, only once every 1–3 years and have faced issues around data privacy compliance.
NATIX has the potential to solve these problems. By utilizing crowdsourcing and leveraging existing smartphone infrastructure, NATEX can operate with virtually zero capital expenditure and much lower operating expenses, while still providing more frequent updates than existing services. Open geospatial intelligence data means new services can readily be built from NATEX data (e.g., autonomous driving). As for privacy, NATIX has developed a patent-pending technology to ensure that any data collected is stripped of any personally identifiable information, meaning that only anonymized numerical data leaves a user’s device.
Beyond their business and technological solutions, we were attracted to NATIX due to their impressive initial traction, owing to a successful GTM strategy using smartphones and gamification.
To some extent, we are not surprised. If Waze can engage millions of active users around the world to manually contribute incident reports without financial incentives, it’s reasonable to expect that NATIX could achieve even more. By automating geospatial data collection through everyday smartphones and offering real financial incentives on the blockchain, NATIX is poised to become a global phenomenon.
We were introduced to Alireza, the founder of NATIX, through our friends at EV3 and quickly became impressed by his unique qualifications and determination. There are few founders who have the background to build and run a project like NATIX. Alireza has a background in electrical engineering and earned a PhD in Communications, Systems, and Electronics where he focused on wireless communications and localization algorithms. He’s held a variety of roles including consulting experience at PWC, working in their blockchain and IoT department, demonstrating not only technical expertise but business acumen as well.
Alireza started NATIX a couple of years ago, and has iterated on it several times demonstrating dogged determination in finding strong product-market fit with its flagship product, Drive&. We are thrilled to support Alireza and his team as they continue to expand, positioning themselves as a leader in the global DePIN industry.
Welcome, NATIX!
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Disclaimer: This post is for general information purposes only. It does not constitute investment advice or a recommendation or solicitation to buy or sell any investment and should not be used in the evaluation of the merits of making any investment decision. It should not be relied upon for accounting, legal or tax advice, or investment recommendations. This post reflects the current opinions of the authors and does not necessarily reflect the opinions of Inception Capital, its affiliates, or individuals associated with Inception Capital. The opinions reflected herein are subject to change without being updated.
