Xona raises $250M at a $2.45B valuation to build a rival to GPS
The California-based startup Xona has secured $250 million in Series D funding at a $2.45 billion valuation, with Steve Jurvetson's Future Ventures leading the round. This funding comes seven months after a $170 million Series C round, bringing Xona's total funding since 2019 to over $570 million. The company is developing a satellite navigation network in low Earth orbit as a rival to existing GPS systems.
Key points
- Series D raises $250M at $2.45B valuation, led by Future Ventures
- Funding comes 7 months after $170M Series C round
- Total funding since 2019 exceeds $570 million
- Building low Earth orbit satellite navigation network as GPS alternative
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