Xona, a US-based commercial navigation technology company, has raised $250 million in Series D funding to expand its satellite-based navigation network and develop an alternative to traditional GPS infrastructure.
The funding round was led by Future Ventures, founded by Steve Jurvetson, with participation from new and existing investors. Jurvetson, a longtime SpaceX board member, was an early investor in Xona.
The latest round values the company at $2.45 billion and brings its total funding raised since 2019 to more than $570 million.
Xona Develops Next-Generation GPS Technology
Founded to build commercial navigation infrastructure in Low Earth Orbit (LEO), Xona is developing its Pulsar satellite network to provide more precise and reliable positioning services.
Traditional GPS supports transportation, communications, financial systems and other critical infrastructure. However, GPS signals can be vulnerable to jamming, spoofing and other disruptions, creating challenges for connected devices and autonomous machines.
Xona aims to address these limitations through its Pulsar network, which the company says can deliver centimeter-level positioning accuracy and signals up to 100 times more powerful than GPS. The technology is also designed to improve resistance to interference and support reception in indoor environments.
The company plans to provide a commercial navigation alternative for industries and devices that require accurate and reliable positioning data.
“The last several years were about proving that a commercial company could build a fundamentally better navigation system. Now we’re putting that system into operation,” said Brian Manning, Co-founder and CEO of Xona. “With satellites in orbit, customers integrating Pulsar firmware into their devices, and the operational capacity to manufacture and deploy at scale, this funding gives us the resources to deliver a service the world increasingly needs.”
Xona Expands Satellite Deployment
Over the past year, Xona has moved from technology demonstrations towards the initial deployment of its commercial navigation network.
The company secured Federal Communications Commission (FCC) authorization for its private navigation constellation, designed to operate alongside government global navigation satellite systems. It has also expanded in-house satellite production at its headquarters in Burlingame, California.
The company launched six more satellites known as Pulsars in the month of October, which is the largest deployment by Xona ever undertaken. Four satellites will assist in providing beta services for the year 2027 in various countries. The remaining two satellites have been designed and built wholly by the company itself.
“The pace of innovation at Xona is remarkable,” said Steve Jurvetson, co-founder of Future Ventures. “In just over a year, the company has advanced from a validation mission to deploying the foundation of an entirely new global navigation network. We’ve seen how commercial innovation can transform entire industries, and Xona has the potential to do the same for one of the most critical services in space.”
Funding to Support Navigation Infrastructure
The $250 million Series D round will support Xona as it advances its commercial navigation network and works towards broader service deployment.
By building a satellite constellation in Low Earth Orbit, the company aims to develop navigation infrastructure that can be deployed more quickly and at a lower cost than traditional systems.
Its Pulsar network is designed to improve positioning accuracy and signal reliability for applications ranging from connected devices and transportation to autonomous systems.
With a $2.45 billion valuation and more than $570 million in total funding, Xona is working to establish its commercial satellite network as a next-generation alternative to conventional GPS technology.
