Xona Raises $250M Series D for Pulsar GPS Constellation
Xona Space Systems closed a $250M Series D led by Future Ventures to scale its Pulsar commercial GPS constellation.
Xona Space Systems announced a $250M Series D on 22 October to accelerate production of its Pulsar commercial GPS constellation, which aims to begin service in 2027. Steve Jurvetson, cofounder and managing director of Future Ventures, led the round, which included undisclosed new and existing investors.
The round values the company at $2.45B and brings Xona's fundraising to more than $570M since its founding in 2019. Xona's long-term plan is to build a constellation of approximately 258 satellites, offered as a commercial alternative to government GPS networks.
Pulsar aims to deliver centimetre-level precision, jamming resistance and indoor reach, with signals 100 times more powerful than legacy GPS. In August, Xona became the first commercial GPS constellation to win FCC approval to broadcast L-band signals. Next year, it plans to test integrations with Army, Navy and Air Force assets.
The announcement follows a CA$15M (about $10.7M) award from Canada to expand operations in Montreal. It also follows the launch of six Pulsar satellites on SpaceX's Bandwagon-5 rideshare mission. Four are modified Pulsar-0 satellites built with help from Aerospacelab, and two are Pulsar Test Satellites designed and built in-house.
Sourcepayloadspace.com