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Space technology startup Xona raises $19 million for GPS

The space technology startup Xona, developing a small-scale navigation satellite network, has closed its Series A funding round at $19 million. Raise fund The Xona team stated that the raised funds will be used to accelerate the deployment of their Low Earth Orbit (LEO) satellite network. Additional…

AuthorBTW Editorial

Reading Time1 min

PublishedMay 9, 2024

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Headline

Context

The space technology startup Xona , developing a small-scale navigation satellite network, has closed its Series A funding round at $19 million. The Xona team stated that the raised funds will be used to accelerate the deployment of their Low Earth Orbit (LEO) satellite network. Additionally, they are planning to commence beta testing for Pulsar, a satellite service designed to provide precise navigation for autonomous technologies, tailored to scale.

Evidence

Pending intelligence enrichment.

Analysis

Xona’s CEO Brian Manning said that AI and automation are the future. Their Pulsar service aims to become the equivalent of the North Star for these industries, just as it was for humanity in the previous century. Also read: How does satellite technology work? Xona states that this network will serve as an alternative to GPS, offering greater security, accuracy, and availability, making it more suitable for autonomous systems and safeguarding critical national infrastructure. According to Xona, this technology can be effectively utilised in industries such as agriculture, automotive, and defense.

Key Points

Xona is a team comprised of space experts from NASA, SpaceX, Ford, Blue Origin, and others. Xona is a startup company developing a network for small-scale navigation.
Xona is raising funds for its new technology development, with Future Ventures and Seraphim Space taking a leading role.