Xona raises $250M at a $2.45B valuation to build a rival to GPS
Xona says its signals are up to 100 times stronger than GPS, and the first satellites for its paid service went up this month.
Via TNW | Investors-funding
Xona, a California startup building a satellite navigation network in low Earth orbit, has raised $250 million at a $2.45 billion valuation. Steve Jurvetson’s Future Ventures led the Series D, Xona said on Thursday.
The round comes seven months after a $170 million Series C. It takes Xona’s total funding since 2019 past $570 million. Future Ventures put in $78.5 million, Forbes reported.
“We started the year with technically an empty warehouse, and now we have a functional satellite factory,”…
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