The startup develops spatial protocols that utilize a decentralized network of terrestrial radios for location verification, enabling users to create a crowdsourced map without reliance on a single point of failure. This approach centralizes location services while enhancing fault tolerance and operational accessibility for clients.
Funding
$16.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional GPS systems are vulnerable to hacking and spoofing, creating security risks for critical infrastructure and applications that rely on accurate location data. Existing centralized mapping services also present single points of failure and potential censorship.
Solution
FOAM provides a decentralized, permissionless network of radios that offer secure location services independent of centralized sources like GPS. The network utilizes time synchronization between remotely controlled radio nodes, called Zone Anchors, to provide verifiable location data. This data is stored on a distributed ledger, ensuring transparency and censorship resistance. The FOAM Map allows users to contribute and verify points of interest, creating a crowdsourced map without a single point of failure.
Target Audience
The primary target audience includes developers, businesses, and organizations seeking secure and reliable location verification for applications in IoT, supply chain, mobility, insurance, and geospatial data markets.
Features
- Decentralized location services using a network of terrestrial radios
- Time synchronization protocol for secure location verification
- Zone Anchors: remotely controlled radio nodes that transceive LoRa packets
- Crowdsourced map where users can add and verify points of interest
- Blockchain-based data storage for transparency and censorship resistance
- Developer tools and APIs for integrating FOAM location services into applications
- FOAM tokens used to incentivize participation and ensure data accuracy