Investment of $50 Million in Series E for Swift Navigation to Enhance Accurate Positioning Technologies
Swift Navigation Secures $50 Million in Funding to Advance Autonomous Technologies
Swift Navigation, a leading provider of precise positioning solutions, has announced the completion of a $50 million Series E financing round. The funding, led by Crosslink Capital, will accelerate Swift Navigation's growth and expand partnerships, as well as unlock new commercial opportunities across multiple industries.
Crosslink Capital is proud to partner with Swift Navigation as they expand their reach and impact globally. New investors Niterra Ventures and AlTi Tiedemann Global also participated in the round. Existing investors NEA, Eclipse Ventures, EPIQ Capital Group, First Round Capital, TELUS Global Ventures, and Potentum Partners also took part in the funding.
The funding will be used to continue Swift Navigation's innovation and unlock some of the most important technologies of our time. According to Michael Stark, Managing Director and Founder of Crosslink Capital, Swift Navigation's precise positioning solution is game-changing, enabling autonomy and automation at scale.
Swift Navigation's solution delivers reliable, safety-certified, cloud-based positioning at a fraction of the cost of legacy solutions. The company's flagship product, Skylark Precise Positioning Service, offers centimeter-level accuracy for Global Navigation Satellite System (GNSS) signals. This level of precision is transforming autonomous driving, robotics, and precision logistics by enabling highly accurate, real-time absolute positioning.
Autonomous Driving: Skylark enables cost-effective, scalable autonomous systems by providing centimeter-accurate positioning that works with standard-definition maps rather than expensive high-definition maps. This allows safer and more reliable driver assistance (ADAS) and autonomous navigation features across millions of consumer vehicles worldwide, bridging the gap between current advanced driver-assistance systems and full autonomy.
Robotics: Although specific robotics applications are less detailed, the precise, reliable positioning facilitated by Skylark is essential for robot localization and navigation, likely contributing to efficient operation in various robotic platforms.
Precision Logistics: The ability to position assets and vehicles with centimeter-level accuracy improves route optimization, asset tracking, and operational safety in logistics, especially in complex environments that require exact location data.
Swift Navigation's automotive safety-certified, cloud-based architecture makes Skylark an affordable, scalable solution for OEMs aiming to enhance the operational envelope of their autonomous and semi-autonomous vehicles. Deployment in markets like South Korea is underway to integrate Skylark into applications facilitated by AI and user interface services, indicating broader adoption in technology ecosystems beyond automotive.
Skylark supports over 10 million ADAS-enabled and autonomous vehicles worldwide. It is currently used in global programs for more than 20 automotive OEMs and leading robotics companies. Timothy Harris, Co-Founder and CEO of Swift Navigation, expressed excitement about the strong group of investors supporting the company and looked forward to expanding adoption across various applications, including digital mapping and precision mobile navigation.
References: [1] Swift Navigation. (2021). Swift Navigation Raises $50M Series E to Scale its Precise Positioning Platform for Autonomous Systems and Robotics. Business Wire. Retrieved from https://www.businesswire.com/news/home/20210217005217/en/Swift-Navigation-Raises-50M-Series-E-to-Scale-its-Precise-Positioning-Platform-for-Autonomous-Systems-and-Robotics
[2] Swift Navigation. (n.d.). Skylark. Retrieved from https://www.swiftnav.com/skylark/
[3] Swift Navigation. (n.d.). Applications. Retrieved from https://www.swiftnav.com/applications/
Investing in Swift Navigation's Series E financing round will propel the technology company's growth, particularly in the realm of finance, as the funding aims to unlock new commercial opportunities across multiple industries, including finance, industry, and technology. Furthermore, the precision positioning solution developed by Swift Navigation, such as the Skylark Precise Positioning Service, is revolutionizing sectors like autonomous driving, technology, and logistics, making it a valuable investment for those interested in the future of investing in technology and autonomous systems.
