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Digital Infrastructure Inc. Announces $9 Million of Funding to Further Support Development of DIMO Network & App Ecosystem
DIMO Unlocks Next-generation mobility services by allowing users & fleets to take ownership of vehicle data.
NEW YORK, February 15, 2022-- Digital Infrastructure Inc., a company focused on building the DIMO network, has raised a funding round led by CoinFund, Variant Fund, Slow Ventures, Table Management (Bill Ackman), Wonder Ventures, Streamr, Stratos Technologies, Lattice, and angels including Rick Wagoner (fmr. CEO of GM), Mark Joseph (CEO, Mobitas Advisors), Trevor McFederies (CEO, Brud), Amir Haleem (CEO, Helium), Kiran Bhatraju (CEO Arcadia), Ro Gupta (CEO, Carmera), Michael Cena (CEO, 3Box Labs), Jake Chervinsky (Head of Policy, Blockchain Association), Packy McCormack (Not Boring Capital), Mason Borda (CEO, Tokensoft).
The vision behind the DIMO network is simple: make it easy for consumers and fleets to take ownership of their mobility data, unlocking better apps and services in automotive finance, insurance, shared mobility, maintenance and more. To accomplish this, Digital Infrastructure Inc. and a group of partners including AutoPi and Streamr are seeding a software and hardware ecosystem:
Since launching App.Dimo.Zone in December of 2021, Digital Infrastructure Inc. has seen tremendous traction: over 17,000 vehicles added, demand from over 700 fleets, and dozens of mobility services companies have begun to build on the platform.
2,500 DIMO-enabled Data Miners have been pre ordered through Shop.Dimo.Zone, and the first units have already been delivered and installed in consumer vehicles. This device enables any car to establish a private, secure hardware connection to the DIMO network, allowing users to add connected vehicle functionality to their vehicle, and opt-out of default options provided by OEMs.
The company plans to use the proceeds from its financing round to:
• Open-source its core software platform and release an SDK for developers to build applications using DIMO hardware.
• Add hardware supply and support the production of additional DIMO-compatible devices.
• Seed apps and services for target groups like EV manufacturers and electric utilities, helping vehicles charge with clean power, and helping drivers figure out how to switch to zero emission vehicles.
• Further decentralize the project to facilitate governance by: drivers, public and private fleets, and app developers.
“We’re building DIMO for users and developers interested in a better, more open mobility future,” said Andy Chatham, co-founder of Digital Infrastructure Inc. “We’re solving a big problem: 9 in 10 people think they should control who has access to their vehicle’s data, and that isn’t the case today. We’ve resourced the project to take a long-term approach, and are excited to begin the next chapter supporting growing the DIMO project into a movement.”
Users earn rewards and access apps by connecting their cars to DIMO and streaming data into Mobility Data Unions. This allows users to negotiate for better goods and services while maintaining privacy, and it allows enterprises and developers to access customers more efficiently.
“We believe cars are going to be the biggest developer platform yet — and the most impactful place to build a user-owned IoT network,” said Yevgeny Khessin, co-founder at Digital Infrastructure Inc. “The technical building blocks and vehicle supply we’re bringing online will unlock new applications in insurance, vehicle sales and financing, energy grid optimization, and more.”
“DIMO Proof-of Movement has the ability to better coordinate connected vehicles with the world around them,” said Alex Felix, CIO of CoinFund. “Empowering users to own their data is a powerful use for web3 technologies, and the network is designed around a positive feedback loop that redraws stakeholder lines and rewards users in more productive ways.”
DIMO is a user-owned IoT platform that allows users to maximize the value of their connected devices, starting with cars. Inspired by Helium, Streamr, IPFS, Ethereum, it allows users to create verified data streams from devices they own and share them with applications privately and without exploitative middlemen.
About Digital Infrastructure Inc. (DINC)
Digital Infrastructure Inc. was founded in 2021 to design, build, and scale the DIMO network. The founding team and its ecosystem of partners have spent years connecting cars to the internet, operating and building mobility services, building hardware, and working with leaders in the autonomous vehicle industry.
You can use DINC products to add a car to the DIMO Alpha Fleet today at App.Dimo.Zone, inquire as a fleet or distribution partner, or read more about the project here.
CoinFund is a blockchain-focused investment firm founded in 2015 with the goal of shaping the global transition to digital assets and decentralized finance. The firm invests in and supports venture and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies and key enabling infrastructure. The CoinFund team has studied and supported the development of the blockchain space from the inception of the first decentralized networks and brings together more than 30 years of experience in investing, engineering, law, decentralized protocols and the operation of blockchain network infrastructure. For more information, please visit www.coinfund.io.