Xona, a Burlingame, California-based company developing commercial satellite navigation infrastructure, has raised $250 million in Series D equity funding led by Future Ventures, the investment firm co-founded by Steve Jurvetson. The financing values Xona at $2.45 billion and increases its total capital raised since 2019 to more than $570 million.
Jurvetson, a longtime SpaceX board member and early investor in Xona, has backed a select group of space companies, including SpaceX, Planet, and Xona.
The new investment will support deployment of the company’s Pulsar satellite navigation network, which is designed to provide more precise and resilient positioning, navigation, and timing services than conventional Global Positioning System technology.
Xona is developing its infrastructure using purpose-built satellites operating in low Earth orbit rather than relying on the higher-altitude satellite architecture used by traditional global navigation satellite systems.
The company says its Pulsar network can provide centimeter-level positioning accuracy and signals up to 100 times more powerful than GPS.
These stronger signals are designed to improve resistance to interference and support positioning capabilities in environments where conventional satellite navigation may be unreliable, including certain indoor locations.
The technology is intended for applications involving autonomous vehicles, robotics, industrial systems, communications, financial infrastructure, and other services requiring reliable positioning and timing.
Xona believes a commercially operated satellite network can expand access to advanced navigation services while reducing the time and cost associated with deploying new capabilities.
During 2026, the company made progress in transitioning from technology demonstrations toward initial commercial deployment.
Xona secured what it describes as the first Federal Communications Commission authorization for a private navigation constellation operating alongside government global navigation satellite systems.
The company also expanded its satellite manufacturing capabilities at its headquarters in Burlingame, California.
In October, Xona completed its largest launch to date, placing six additional Pulsar satellites into orbit.
Four of the spacecraft are expected to support initial beta navigation services in multiple countries beginning in early 2027.
The remaining two satellites were designed and manufactured entirely in-house and will be used to validate the company’s architecture for larger-scale constellation deployment.
Xona is also working with customers that are integrating Pulsar-compatible firmware into their devices, preparing for the introduction of commercial services.
The company sees growing demand for alternative and complementary positioning systems as more industries adopt autonomous technologies and become increasingly dependent on reliable satellite navigation.
Conventional GPS signals can be vulnerable to jamming, spoofing, and other forms of disruption, creating potential challenges for critical infrastructure and industrial operations.
Xona’s stronger signal architecture is intended to reduce those vulnerabilities while providing enhanced positioning accuracy for applications requiring precise location information.
With the Series D financing, the company plans to continue expanding its satellite constellation, manufacturing capacity, and commercial infrastructure.
The funding also provides resources for the planned introduction of initial services in 2027 and subsequent deployment of a broader global navigation network.
KEY QUOTES:
“The last several years were about proving that a commercial company could build a fundamentally better navigation system. Now we’re putting that system into operation. With satellites in orbit, customers integrating Pulsar firmware into their devices, and the operational capacity to manufacture and deploy at scale, this funding gives us the resources to deliver a service the world increasingly needs.”
Brian Manning, Co-Founder And CEO Of Xona
“The pace of innovation at Xona is remarkable. In just over a year, the company has advanced from a validation mission to deploying the foundation of an entirely new global navigation network. We’ve seen how commercial innovation can transform entire industries, and Xona has the potential to do the same for one of the most critical services in space.”
Steve Jurvetson, Co-Founder Of Future Ventures
