Swift Navigation mentioned its know-how 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 know-how 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 so far 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 allows us to speed up progress, broaden partnerships, and proceed to innovate to unlock a number of the most vital applied sciences of our time.”
Conventional international navigation satellite tv for pc methods (GNSS), reminiscent of 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 indicators.
The firm claimed that this permits it to supply 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 aside from conventional GNSS
Swift Navigation mentioned its newest financing displays sturdy market demand for the corporate’s modern strategy to express positioning. Not like 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. Not like different ASIL-certified positioning options, which depend on pricey bodily knowledge facilities, Skylark operates completely within the cloud.
At present, the corporate mentioned Skylark powers greater than 10 million ADAS (superior driver-assist system)-enabled and autonomous autos worldwide and helps international packages for over 20 automotive OEMs and Tier 1 suppliers, high robotics firms, and one of many world’s largest industrial 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 can drive additional adoption in and past ADAS, autonomy, robotics, and precision logistics. The corporate’s know-how has purposes in low-cost, high-accuracy digital mapping, precision cell navigation, and V2X communication.
“Swift Navigation has constructed a game-changing exact positioning resolution, enabling autonomy and automation at scale,” mentioned Michael Stark, founder and managing director of Crosslink Capital. “Their skill to ship dependable, safety-certified, cloud-based positioning at a fraction of the price of legacy options is unlocking new industrial alternatives throughout a number of industries. We’re proud to associate with Swift as they broaden their attain and impression globally.”
