Naventik GmbH, a Chemnitz, Germany-based driving startup, raised €2.0m in funding.
Backers included Technologiegründerfond Sachsen (TGFS, Germany) and GPS Ventures (Germany).
The company intends to use the funds to strengthen global marketing and partnerships as well as human recourses development.
Founded in 2017, Naventik has developed PATHFINDER, a software-based global navigation satellite system (GNSS) for cars. Developed during a 6-year research and development process at the Technical University of Chemnitz (Germany), the solution interacts with diverse sensor systems within the car in real-time to provide this certain level of security.
The company has signed international collaborations with Volkswagen, Nvidia, Deutsche Bahn and IAV.