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Swift Navigation Raised $34 Million in Latest Funding Round

By | June 29, 2017
      L-R: Swift Navigation's three co-founders, Colin Beighley, Fergus Noble and Tim Harris. Photo: Swift Navigation.

      L-R: Swift Navigation’s three co-founders, Colin Beighley, Fergus Noble and Tim Harris. Photo: Swift Navigation.

      Swift Navigation, a San Francisco tech firm building centimeter-accurate GPS technology to power autonomous vehicles, announced that it has raised a $34 million Series B financing round led by Forest Baskett and Greg Papadopoulos of New Enterprise Associates (NEA), with participation from existing investors Eclipse and First Round Capital. To date, the company has raised a total of $47.6 million in funding.

      With its Global Navigation Satellite System (GNSS) solutions, Swift Navigation stated it serves more than 2,000 customers, including autonomous vehicles, precision agriculture, Unmanned Aerial Vehicles (UAVs), robotics, maritime, transportation/logistics and outdoor industrial applications. According to Swift Navigation, by moving GPS positioning from custom hardware to a flexible software-based receiver, the company can deliver Real Time Kinematics (RTK) GPS that is 100 times more accurate than traditional GPS found in a typical phone.

      With the influx of financial support, Swift Navigation plans to take customer deployments to scale while growing its team and investing in core engineering and Research and Development (R&D). The company will introduce additional products in 2017.