Onocoy Secures Funding from Industry Investors for Token Launch

Zurich, 3 September 2024. onocoy, a venture focusing on high-precision GPS using a decentralized physical infrastructure powered by blockchain, has secured significant funding through a private token sale.

The new investors include leaders from the GPS industry, such as Thomas Seiler, former CEO of u-blox. Seiler will also join onocoy as an advisor. Other investors include Smart Island Capital and various business angels from the IoT and blockchain sectors.

This funding round has brought in over USD 940,000, increasing onocoy's total funding to over USD 4,200,000. The funds will help scale onocoy's services, support the token launch, and further develop its products and community.

onocoy's Co-founder, Daniel Ammann, stated that the support from strategic investors highlights confidence in their vision and technology. onocoy is also in talks with additional industry players for future partnerships.

The team will participate in major industry events such as Token 2049 and Solana Breakpoint in Singapore, as well as the CV Summit in Zug. They will also be present at ION GNSS+ in Baltimore and InterGEO in Stuttgart.