Funding Boost for Swift Navigation: Securing $50 Million in Series E to Develop Advanced Positioning Technology Solutions
Swift Navigation, a leading provider of precise positioning solutions, has completed a $50 million Series E financing round. This significant investment will accelerate the company's growth and expansion, aiming to broaden the reach of its Skylark service beyond advanced driver assistance systems (ADAS), autonomy, and robotics into high-volume applications such as precision mobile navigation and vehicle-to-everything (V2X) communication.
Timothy Harris, Co-Founder and CEO of Swift Navigation, expressed his excitement about the funding, stating, "We are thrilled to have the support of our new and existing investors as we continue to transform the way industries rely on precise positioning."
The financing round was led by Crosslink Capital, with participation from NEA, Eclipse Ventures, EPIQ Capital Group, First Round Capital, TELUS Global Ventures, Potentum Partners, Michael Stark from Crosslink Capital, and new investors Niterra Ventures and AlTi Tiedemann Global.
Michael Stark, Managing Director and Founder of Crosslink Capital, expressed his pride in partnering with Swift Navigation as they expand their reach and impact globally.
Swift Navigation's Skylark Precise Positioning Service corrects Global Navigation Satellite System (GNSS) signal errors to achieve centimeter-level accuracy. Currently, Skylark is used in global programs for more than 20 automotive OEMs and leading robotics companies.
Key current applications of Skylark include:
- Automotive: Skylark is the only ASIL-certified (ISO 26262:2018) cloud-based real-time positioning service, enabling safe, precise operation of ADAS-enabled and autonomous vehicles globally.
- Robotics: Skylark supports centimeter-accurate positioning for various robots such as robotic lawnmowers and surveying drones, ensuring high reliability and automatic failover through advanced atmospheric modeling.
- Fleet Management and Precision Logistics: Skylark delivers cost-effective, battery-optimized positioning solutions to optimize last-mile and last-inch delivery operations.
- Mapping: Skylark enables any vehicle equipped with compatible GNSS and cameras to act as a mapping asset, dramatically reducing the cost and complexity of creating and continuously updating HD maps at large geographic scale, even in challenging environments like urban canyons.
Future plans after the Series E funding focus on expanding Skylark’s deployment globally, including new markets like Taiwan via a partnership with Taiwan Mobile, to enable industrial and consumer applications in Asia and beyond. The funding will also support scaling Skylark’s cloud-based GNSS correction infrastructure and unlocking mass-market adoption for mobility, automation, and safety applications.
Swift Navigation's precise positioning solution delivers reliable, safety-certified, cloud-based positioning at a fraction of the cost of legacy solutions. This investment will unlock new commercial opportunities across multiple industries for Swift Navigation, enabling the company to continue innovating and unlocking some of the most important technologies of our time.
With over $250 million raised to date, Swift Navigation is well-positioned to lead the way in precise positioning solutions, transforming industries and enhancing GNSS accuracy and reliability for widespread autonomous and precision positioning use cases worldwide.
Swift Navigation aims to utilize the funds from the Series E financing round to extend Skylark's service beyond existing areas like ADAS, autonomy, and robotics, venturing into data-and-cloud-computing-dependent sectors such as precision mobile navigation and vehicle-to-everything (V2X) communication. This venture-capital-backed expansion will also involve collaboration with Taiwan Mobile to penetrate new markets like Taiwan, pursuing industrial and consumer applications in Asia and beyond.
Timothy Harris, Swift Navigation's CEO, anticipates that this investment will unlock new commercial opportunities across multiple industries, propelling the company to further innovate and push the boundaries of technology within precise positioning solutions.
