The capital raised will expedite the rollout of Xona's low Earth orbit (LEO) satellite network, marking the initiation of beta operations for their PULSAR satellite service. This service is designed to deliver high-accuracy navigation crucial for advancing intelligent and autonomous technologies.

"A century ago, people looked to the North Star for trusted guidance when other methods were unavailable," said Brian Manning, CEO and co-founder of Xona. "AI and automation are the future - our PULSAR service aims to be for these industries what the North Star was for humanity in previous centuries."

Rob Desborough, General Partner at Seraphim Space, commented: "After half a century of use, our dependence on GPS is absolute. Outages could cause incalculable damage to the global economy, while enhancement opens up whole new industries. Waiting for GPS to fail, or for hostile powers to spoof it, is not an option for our security or commercial industries. Xona and the pioneering team are executing on building the GPS the modern era needs and we're delighted to continue to support their transformative vision."

PULSAR promises significant enhancements over GPS in terms of accuracy, availability, and security, addressing the needs of industries like agriculture, automotive, and defense that are moving towards automation.

"We have been searching for over a decade for the next great space company that will have a transformational impact on the world," said Steve Jurvetson, co-founder and managing partner at Future Ventures.

"Xona is building a powerful, precise and protected platform for global geolocation services. Much of the economy, from autonomous vehicles to maps and asset tracking rely on GNSS from space. With current offerings, the signals are weak and thus, easily lost in buildings, urban areas, and areas with signal interference. Much like Starlink was for communications links, Xona's LEO constellation of satellites can provide a more robust and powerful solution than current systems operating in higher orbits, while preserving compatibility with end user equipment. I am thrilled to be joining the visionary and talented team of Xona."

Brian Manning further added, "Xona is a pioneer not only in precision LEO navigation but also the commercialization of satellite navigation itself. This brings with it many new challenges across all aspects of the company. This round is a testament to our team's ability to overcome these challenges, and has armed us with the resources we need to bring our vision to life."

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Xona Space Systems
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