Swift Navigation Secures $50M Funding to Transform GPS Precision
Swift Navigation, a precision positioning company based in San Francisco, has successfully secured a $50 million Series E funding round. This significant financial boost aims to expedite the worldwide adoption of its groundbreaking, centimeter-accurate satellite positioning technology. Leading the funding round was Crosslink Capital, pushing the company’s total funding to over $250 million.
The company’s premier product, the Skylark⢠Precise Positioning Service, enhances GPS accuracy from a range of 5-10 meters to an impressive centimeter-level precision. This 100x improvement is vital for autonomous vehicles, robotics, and precision logistics. Currently, Skylark powers over 10 million ADAS-enabled and autonomous vehicles worldwide. It also supports programs for over 20 automotive OEMs and Tier 1 suppliers.
“This funding enables us to accelerate growth, expand partnerships, and continue to innovate to unlock some of the most important technologies of our time,” said Timothy Harris, Co-Founder and CEO of Swift Navigation.
The technology has potential applications in various sectors, including autonomous driving, robotics, V2X communication, and digital mapping.
Source: Globe Newswire