Exclusive: Xona tallies $92 million as it sends Pulsar-0 to space
Satellite navigation startup Xona Space Systems secured $92 million in new funding, the company told Axios on the heels of its successful Pulsar-0 launch.
Why it matters: The modern world would crumble without solid location-and-timing data. Militaries need it. Financial markets need it. A trip to the grocery store needs it.
State of play: Xona is targeting automotive, logistics, mining and defense industries, among many others, with its satellite-based positioning, navigation and timing services.
The company's planned low-Earth orbit constellation is expected to augment existing GPS until it becomes a standalone source of information.
It inked a $4.6 million demonstration contract with the U.S. Air Force Research Laboratory earlier this year.
Threat level: The U.S. advantage in space is thinning. Plus, Russia's jamming and spoofing efforts scramble signals beyond Ukraine's frontlines.
In one high-profile case, Finnair suspended flights to Tartu, Estonia, due to interference. Pilots reported issues near the Black and Caspian seas as well as Kaliningrad.
What they're saying: " Navigation and timing are systems the world isn't supposed to think about. They're just supposed to work," Xona chief executive Brian Manning said in a blog post shared with Axios.
"When they fail, everything around them will too."
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