Pantera backs $20m raise for decentralized OS for robots

OpenMind plans to create a decentralized operating system for smart machines.

Crypto and robotics may soon become a powerful synergy. On Monday, August 4, Pantera Capital led a $20 million funding round in OpenMind. Other investors include Coinbase Ventures, DCG, Ribbit, Lightspeed Faction, Pebblebed, Topology, among others.

The firm, whose CEO is Stanford professor Jan Liphardt, is working on FABRIC, creating a decentralized operating system for robots.

Described as “Linux on Ethereum,” the operating system will function as a coordination layer for smart machines. It will also leverage blockchain networks to remain decentralized, enabling machines from multiple producers to work together.

Blockchain could be key to robotics development

According to Nihal Maunder, partner at Pantera Capital, this approach “feels obvious in hindsight.” He explained that an open network is the key to moving the robotics industry forward.

Linux is an open-source operating system powering almost all the servers that run the Internet. Thanks to its modular and open-source nature, any developer can adapt it to their exact needs.

This mirrors how smart contracts work on blockchains like Ethereum. As decentralized applications and smart contracts are open source, developers can easily build dApps that interact with a large number of others, enabling collaborative functionality.