Swift Navigation mentioned its expertise can be utilized in a spread of robotics, together with autonomous lawnmowers, agricultural robots, supply robots, drones, and extra. | Supply: Swift Navigation
Swift Navigation, a developer of centimeter-level positioning expertise for car autonomy, robotics, and precision logistics, this week mentioned it has raised $50 million in a Sequence E financing spherical. This spherical brings the corporate’s complete funding up to now to $250 million.
“We’re thrilled to have the help of such a robust group of traders who acknowledge the transformative energy of exact positioning,” acknowledged Timothy Harris, co-founder and CEO of Swift Navigation. “This funding permits us to speed up progress, broaden partnerships, and proceed to innovate to unlock a few of the most necessary applied sciences of our time.”
Conventional world navigation satellite tv for pc methods (GNSS), corresponding to GPS, present positioning with an accuracy vary of three to 10 m (9.8 to 32.8 ft.). Swift mentioned its Skylark Exact Positioning Service is a cloud-based service that corrects errors in GNSS alerts.
The firm claimed that this allows it to offer positioning accuracy to the centimeter degree. Skylark is purpose-built to allow mass-market adoption of high-accuracy GNSS by unlocking high-volume purposes in autonomous driving, robotics, precision logistics, and V2X (vehicle-to-everything) communication.
How Skylark stands other than conventional GNSS
Swift Navigation mentioned its newest financing displays sturdy market demand for the corporate’s modern strategy to express positioning. In contrast to conventional positioning applied sciences, Skylark makes use of superior atmospheric modeling, cloud-based structure, carrier-grade networks, and ecosystem-driven design to ship reliability, security, and value effectivity at scale.
Skylark is a real-time, cloud-based service, licensed to fulfill ISO 26262:2018 useful security requirements for street autos. In contrast to different ASIL-certified positioning options, which depend on pricey bodily knowledge facilities, Skylark operates completely within the cloud.
At this time, the corporate mentioned Skylark powers greater than 10 million ADAS (superior driver-assist system)-enabled and autonomous autos worldwide and helps world applications for over 20 automotive OEMs and Tier 1 suppliers, high robotics firms, and one of many world’s largest business fleet operators.
Swift Navigation to drive adoption past ADAS
Crosslink Capital led Swift Navigation’s Sequence E spherical, which included participation from present traders NEA, Eclipse Ventures, EPIQ Capital Group, First Spherical Capital, TELUS World Ventures, and Potentum Companions. It additionally included new traders Niterra Ventures, AlTi Tiedemann World, GRIDS Capital, Essentia Ventures, Shea Ventures, and EnerTech Capital.
With this Sequence E funding, Swift mentioned it is going to drive additional adoption in and past ADAS, autonomy, robotics, and precision logistics. The corporate’s expertise has purposes in low-cost, high-accuracy digital mapping, precision cell navigation, and V2X communication.
“Swift Navigation has constructed a game-changing exact positioning answer, enabling autonomy and automation at scale,” mentioned Michael Stark, founder and managing director of Crosslink Capital. “Their means to ship dependable, safety-certified, cloud-based positioning at a fraction of the price of legacy options is unlocking new business alternatives throughout a number of industries. We’re proud to associate with Swift as they broaden their attain and influence globally.”
