Swift secures $50M to enhance adoption of accurate satellite positioning
Traditional Global Navigation Satellite Systems (GNSS), such as GPS, provide positioning with an accuracy range of 3 to 10 meters. Swift’s Skylark Precise Positioning Service is a cloud-based service that corrects errors in GNSS signals, improving accuracy by 100x—to centimeter level.
Swift Navigation, a US-based company providing high-accuracy satellite positioning to unlock autonomy and automation at scale, has announced the completion of its USD 50 million Series E financing round.
Led by Crosslink Capital, the round saw strong participation from existing investors NEA, Eclipse Ventures, EPIQ Capital Group, First Round Capital, TELUS Global Ventures, and Potentum Partners alongside new investors Niterra Ventures, AlTi Tiedemann Global, GRIDS Capital, Essentia Ventures, Shea Ventures, and EnerTech Capital.
This funding brings Swift Navigation’s total capital raised to over USD 250 million, fueling its mission to revolutionize how we map and navigate the world with centimeter-level precision, the San Francisco-headquartered company said in a media release.
Traditional Global Navigation Satellite Systems (GNSS), such as GPS, provide positioning with an accuracy range of 3 to 10 meters. Swift’s Skylark Precise Positioning Service is a cloud-based service that corrects errors in GNSS signals, improving accuracy by 100x—to centimeter level. Skylark is purpose-built to enable mass market adoption of high-accuracy GNSS by unlocking high-volume applications in autonomous driving, robotics, precision logistics, and V2X communication, the media release said.
Today, Skylark powers more than 10 million ADAS-enabled and autonomous vehicles worldwide and supports global programs for 20+ automotive OEMs and Tier 1 suppliers, top robotics companies, and one of the world’s largest commercial fleet operators.
“We’re thrilled to have the support of such a strong group of investors who recognize the transformative power of precise positioning,” said Timothy Harris, Co-Founder and CEO of Swift Navigation. “This funding enables us to accelerate growth, expand partnerships, and continue to innovate to unlock some of the most important technologies of our time.”
“Swift Navigation has built a game-changing precise positioning solution, enabling autonomy and automation at scale,” said Michael Stark, Managing Director and Founder of Crosslink Capital. “Their ability to deliver reliable, safety-certified, cloud-based positioning at a fraction of the cost of legacy solutions is unlocking new commercial opportunities across multiple industries. We are proud to partner with Swift as they expand their reach and impact globally.”
With this Series E funding, Swift said it will drive further adoption in and beyond ADAS, autonomy, robotics and precision logistics.