Xona Raises $250 Million Series D to Challenge GPS Technology

Xona Space Systems has raised $250 million in Series D funding at a $2.45 billion valuation as it prepares to deploy its Pulsar satellite navigation network.

The round was led by Steve Jurvetson’s Future Ventures, bringing Xona’s total funding to more than $570 million.

Founded in 2019, Xona is developing a commercial satellite navigation system using low Earth orbit (LEO) satellites to deliver more precise positioning and timing than traditional GPS and other global navigation satellite systems.

The company says its Pulsar-0 demonstration satellite has completed more than 500 transmissions, demonstrated positioning accuracy better than two centimeters, and shown compatibility with existing commercial receiver hardware without physical modifications.

Earlier this week, Xona launched six additional Pulsar satellites, marking the start of deployment for its commercial constellation. Four are expected to begin providing service to customers in 2027, while the other two are the first spacecraft designed and manufactured entirely in-house at the company’s facility in Burlingame, California.

Xona plans to use the new funding to expand satellite manufacturing, accelerate constellation deployment, and build the infrastructure needed to operate a global navigation service.

The company has also brought its Burlingame factory online and received FCC authorization for its commercial constellation, positioning it to move from technology demonstrations toward recurring production and customer operations.

Image credits: Xona