Series D follows largest launch to date, major manufacturing expansion and regulatory milestones as Xona launches initial commercial service in 2027

Xona, the commercial navigation company building the next generation of global navigation infrastructure in Low Earth Orbit,announced $250 million in Series D equity funding led by Steve Jurvetson’s Future Ventures, with participation from new and existing investors. A longtime SpaceX board member, Jurvetson is an early backer of Xona and has invested in just three space companies throughout his career: SpaceX, Planet and Xona. The financing values Xona at $2.45 billion and brings its total capital raised since 2019 to more than $570 million.

For decades, GPS has underpinned the modern economy, powering critical infrastructure, communications, transportation and financial systems. Today, billions of connected devices and increasingly autonomous machines depend on signals vulnerable to jamming, spoofing and disruption, while the cost and complexity of modernizing traditional government-operated navigation systems have made it difficult to keep pace with emerging demands.

Xona is building a new generation of navigation infrastructure designed to deploy faster and at a fraction of the cost of traditional systems. Its Pulsar network delivers centimeter-level precision and signals up to 100 times more powerful than GPS, with demonstrated resistance to jamming and the ability to reach receivers indoors.

“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,” said Brian Manning, Co-founder and CEO of Xona. “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.”

From Breakthrough to Deployment

Over the past year, Xona has advanced from a first-of-its-kind technology demonstration to the initial deployment of its commercial navigation network. The company secured the first and only FCC authorization for a private navigation constellation operating alongside government GNSS systems and began scaling in-house satellite production at its Burlingame, California headquarters.

In October, Xona completed its largest launch to date, deploying six new Pulsar satellites. Four will support initial beta service in multiple countries beginning in early 2027, while two spacecraft designed and manufactured entirely in-house will validate the architecture for scaling the full constellation.

“The pace of innovation at Xona is remarkable,” said Steve Jurvetson, co-founder of Future Ventures. “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.”