Xona Space Systems, a Burlingame, CA-based company developing a network of small satellites to provide high-precision navigation services, raised $19m in Series A funding.
The round led by Future Ventures and Seraphim Space with participation from new investors NGP Capital, Industrious Ventures, Murata Electronics, Space Capital, and Aloniq.
The company intends to use the funds to accelerate the deployment of its low Earth orbit (LEO) satellite network as they drive towards commercialization.
Led by Brian Manning, CEO and co-founder, Xona Space Systems is developing an independent high-performance satellite navigation and timing system to meet the needs of intelligent systems. Delivered via a secure, high-power signal from Xona’s low Earth orbit satellites, the patent-pending PULSAR™ service aims to enable the next wave of automated technology.
With this round, Xona will begin beta operations of their PULSAR™ satellite service which is aimed at providing the precision guidance needed for intelligent and autonomous technologies to scale beyond highly structured environments.
Compared to GPS, PULSAR™ brings orders of magnitude improvements in accuracy, availability, and security which are crucial for a future filled with autonomous systems and for the protection of vital national infrastructure. Major industries such as agriculture, automotive, and defense are eager to transition to automation but are continuously plagued by the challenges of unstructured environments and inadequate GPS performance. Xona’s PULSAR™ allows these devices to expand beyond their current limits by enabling them to confidently determine their location to within a few centimeters even if they have never operated at that location before.
FinSMEs
08/05/2024