- The Constellation network announced that it has acquired the SaaS startup — Dor.
- Through this, the network aims to scale blockchain to more than 2,000 retailers.
- Aside from this, the network can also benefit from Dor’s innovative solutions.
Constellation network announced today that it has acquired the SaaS startup — Dor. To clarify, Constellation is a distributed infrastructure that connects big data and the blockchain. Dor, on the other hand, is a startup that helps businesses grow via data analytics solutions. As a result, Dor provides customer outcomes that could help brands understand store foot traffic comprehensively.
Constellation notes that the acquisition will position the network to codify Dor’s voluminous foot traffic data and link this data with other large consumer datasets. This information will enable Constellation to provide a higher level of insight into the spending habits of millions of consumers, whilst uncompromising their privacy. Hence, by combining both Constellation’s existing mobile node infrastructure and Dor’s hardware, the network is set to create the largest mesh network in the blockchain.
Commenting on this, Constellation CEO, Ben Jorgensen says,
Acquiring a data-driven hardware and software company will help us increase Constellation’s network utility. With its cutting edge technology, Dor is providing critical data that is enabling thousands of retail stores in the US and Canada to improve the customer experience, and ultimately to grow their businesses.
Jorgensen further added, “With this acquisition and the data we can obtain with Dor’s battery-operated and cellular-powered thermal sensors, we can put millions of monthly data points into our network. This acquisition kickstarts our vision and ambition to merge crypto businesses with traditional businesses.”
Meanwhile, San Francisco-based start-up, Dor, will still continue its retail operations while working with Constellation. Dor mentioned that the reason is to develop new blockchain-based products. In detail, Dor was founded by two former Apple (NASDAQ:) engineers in 2015. It was funded by leading venture capital firms namely Zetta Ventures, Bolt Ventures, BCV, Conductive Ventures, RevTech Ventures, Precursor Ventures, and Vertex (NASDAQ:) Ventures. The funding came in Seed and Series A rounds with a total investment of more than $15 million.
Also expressing his delight is the CEO of Dor CEO — Michael Brand
Dor has tens of millions of data points per month. The data that Dor provides allows retailers to make changes to better optimize their stores’ performance. In a world where stores use an endless amount of experiments and tactics to increase sales, there is no way to pinpoint which methods work unless you have the data that can back it up. Constellation will help us streamline that data in addition to exploring new possibilities in the world of cryptocurrency and distributed ledger technology.
A Scalable Blockchain Model That Supports a World of New Applications
The Constellation network is based on a directed acyclic graph (DAG) model, unlike and that have linear networks, which make the networks face scalability challenges. Constellation’s model, particularly, forms a database of nodes in a decentralized framework that can handle millions of data inputs and grow significantly as the amount of data grows.
According to Constellation, combining Constellation’s Hypergraph and Dor’s innovative hardware, this acquisition will initiate developments of far better solutions on blockchain technology and integrate it into real-world applications and reinforced infrastructure.
Also, more than 2,000 retailers rely on Dor’s technology in making operable and data-driven decisions based on foot traffic information. Moreover, its thermal foot traffic counter tallies the heat signatures of store visitors — as it is supported by machine learning algorithms with reliable accuracy rates.
In addition, Dor’s sensor also features a peel-and-stick solution that uses a cellular connection. This makes independent and enterprise retailers easily secure and install it. What’s more, this thermal sensor can further track the customers anonymously — meaning, it doesn’t compromise customer privacy in any way.
Furthermore, Constellation noted that this acquisition’s vision is to lead a global mesh network on distributed devices. Through this, Constellation will be able to deploy its technology into the retail sector; hence, tap into the large market industry by extending its network with mobile nodes for transactions.