Monica Hunter-Hart / Forbes : Xona, which plans to deploy a 258-satellite low-Earth orbit constellation as a commercial alternative to GPS, raised a $250M Series D at a $2.45B valuation — The U.S. government built GPS. Now Silicon Valley is funding a rival developed by the startup Xona, which just raised $250 million in venture funding.
Xona, which plans to deploy a 258-satellite low-Earth orbit constellation as a commercial alternative to GPS, raised a $250M Series D at a $2.45B valuation (Monica Hunter-Hart/Forbes)
In short
Xona, a startup aiming to offer a commercial alternative to GPS, has secured a $250 million Series D investment, valuing the company at $2.45 billion, highlighting the growing competition in the satellite navigation market and positioning the company as a potential disruptor in the industry.
Key points
- Xona aims to offer a commercial alternative to GPS.: Xona aims to offer a commercial alternative to GPS.
- The company's valuation underscores the growing competition in the satellite navigation m…: The company's valuation underscores the growing competition in the satellite navigation market.
- Xona's plan to deploy a 258-satellite constellation positions it as a potential disruptor…: Xona's plan to deploy a 258-satellite constellation positions it as a potential disruptor in the industry.