Citix secures investment from Tim Draper to transform public spaces

ALMATY, KAZAKHSTAN - Citix, a company specializing in urban technology, has received a $1 million investment from Draper Associates, valuing the company at $98 million. This partnership marks a significant milestone for Citix in its ambition to redefine public space through the use of smart urban gadgets.

Citix's products, including smartboards for transport and pedestrians, utilize blockchain technology and are designed to collect, analyze outdoor data, and deliver relevant content. The goal is to facilitate a new form of communication between cities, their residents, and businesses.

Citix's network of gadgets has expanded in Kazakhstan, making the company a local leader in the Digital Out-of-Home market. It now extends to the markets of Turkey, the Middle East, North Africa, and the United States. Tim Draper, known for his investments in companies like Tesla and SpaceX, highlights Citix's potential to transform cities by providing security, Wi-Fi, and other services from compact devices.

The collaboration between Citix and Draper began during the Draper University Hero Training program, after Citix was selected among the top 15 projects in the Central Asia region. This partnership with Tim Draper is seen by Citix not only as a source of motivation but also as a recognition of their mission to redefine public space.

Citix also positions itself as a key player at the Silkroad Innovation Hub in San Francisco, contributing to the promotion of Central Asia in the United States and illustrating the region's openness to international investors.