Portfolio company Xona Space Systems has announced a landmark $92 million Series B funding round, marking a major step forward in its mission to rebuild the world’s satellite navigation infrastructure from the ground up. The round was led by Craft Ventures, with continued participation from Seraphim and other notable investors including Stellar Ventures, Toyota Ventures, First Spark, NGP Capital, and Future Ventures. The equity raise is further supported by $20 million in non-dilutive capital from the U.S. Space Force’s SpaceWERX via a Strategic Funding Increase (STRATFI) award, bringing Xona’s total funding to over $150 million to date.
When most people think of GPS, they think of the blue dot on a map but behind it is a Cold War-era system never designed for the digital world we now live in. The average U.S. GPS satellite is over 13 years old, orbiting 20,000 km above Earth and broadcasting weak, unencrypted signals that are increasingly vulnerable to jamming and spoofing, creating growing risks for national security, commercial applications, and the global economy.In a world moving rapidly toward autonomy, advanced robotics, AI, and automated infrastructure, the need for a modern, secure, and high-precision navigation system has become critical.
Xona has recently launched Pulsar, the first commercial-grade Positioning, Navigation, and Timing (PNT) constellation in Low Earth Orbit (LEO), offering a transformative leap in navigation capabilities:
In 2022, Xona proved the viability of this new approach with the launch of Huginn, the world’s first commercial navigation satellite in LEO. Earlier this month, it launched Pulsar-0, the first production-class satellite in its constellation, a major milestone as Xona transitions from R&D to commercial deployment. With this new funding, Xona will accelerate the manufacturing and deployment of hundreds of satellites, onboard early customers, and begin delivering secure, high-performance navigation to industries spanning defense, automotive, logistics, agriculture, and critical infrastructure.
As the world becomes increasingly digital, connected, and autonomous, reliable and secure navigation is becoming the invisible infrastructure of progress. Xona is not just improving GPS, it’s reimagining the entire foundation of global navigation for the 21st century. We are proud to continue supporting Brian Manning, the Xona team, and their pioneering vision as they scale this vital capability.
