SAN FRANCISCO, Feb 10 (Bernama-GLOBE NEWSWIRE) — Swift Navigation, a San Francisco-based tech firm redefining GNSS (Global Navigation Satellite System) and precise positioning technology for autonomous vehicles, automotive, mobile and mass-market applications, today announced that it has raised a $50 million Series C round of financing led by existing investors Forest Baskett and Greg Papadopoulos of New Enterprise Associates (NEA), existing investor Eclipse Ventures and new investors, including EPIQ Capital Group and KDDI Open Innovation Fund. To date, the company has raised a total of $97.6 million in funding.
Since its Series B round of financing, Swift has delivered a higher performance precise positioning service and expanded its global coverage to meet the needs of an on-demand economy and higher levels of autonomy. Swift’s customers across the globe include automotive OEMs, last-mile delivery providers, mobile providers and those building rail, industrial, micromobility and IoT platforms for mass-market applications. Swift plans to use its latest round of funding to scale customer deployments and continue its worldwide expansion.