SAN FRANCISCO, Oct. 18, 2022 (GLOBE NEWSWIRE) — Swift Navigation, a San Francisco-based tech agency redefining GNSS (Global Navigation Satellite System) and exact positioning expertise for automotive ADAS (superior driver-assistance techniques) and autonomy, industrial machine management, industrial transportation, cellular and rising mass-market purposes, immediately introduced that it has accomplished a $100 million financing spherical. The Series D Round was led by SK Inc. and Potentum Partners with sturdy assist from Swift’s present traders, together with New Enterprise Associates (NEA), Eclipse Ventures and EPIQ Capital Group. The Series D Round included new traders: FM Capital, OVN Capital, TELUS Ventures, TWM Venture Co., Buckley Ventures, Schox Venture Capital and extra impartial traders. To date, the corporate has raised over $200 million in funding.
“We have an amazing group of investors behind us and are honored to see the many customers who are using Swift technology at such incredible scale as they build the future of transportation and automation,” remarked Timothy Harris, CEO of Swift. “Thank you to our loyal partners and investors at NEA, Eclipse and EPIQ and we welcome the support of our new investors to help us deliver precise positioning across the world.”
“We are delighted to be the lead investor for this financing transaction as part of our investment strategy in high-tech software companies,” mentioned Subeom Lee of SK Inc. “Swift’s high-precision positioning solution is best suited for automotive, smartphone, robotic and future smart devices with its cutting-edge, cost-efficient and hardware-agnostic technology. We believe that Swift will contribute to advancing the new era of driverless technology.”
“Centimeter-level position accuracy on a continent-wide scale is impressive enough, but what really excites us is Swift’s ability to provide it with extraordinary reliability, putting absolute-position data at the core of safety-critical features in automotive, automation and machine control,” mentioned David Simons, Founding Partner of Potentum Partners. “Tim and his team have built an impressive business and we are thrilled to be a part of it.”
Since its Series C Round of financing, Swift has refined its world, centimeter-accurate exact positioning service and expanded its protection throughout continents to fulfill the wants of an on-demand economy requiring larger ranges of autonomy. Swift’s clients span the globe and embody automotive OEMs and Tier 1s, last-mile supply suppliers, cellular handset and utility suppliers and people constructing rail, industrial machine management and IoT platforms for mass-market purposes.
Swift’s expertise is now powering a number of of the biggest automotive and industrial automobile fleets on the highway immediately, supporting enhanced navigation and ADAS. Swift’s expertise improves automobile positioning for a extra environment friendly person expertise and streamlined routing when navigating, in addition to being a important element of the ADAS system and improved security, all leading to value financial savings. The accuracy delivered by commonplace GNSS is 3-30 meters, whereas Swift’s exact positioning resolution delivers accuracy in centimeters.
Swift affords a complete GNSS platform, consisting of Skylark™, Swift’s world large space, cloud-based GNSS exact positioning service, Starling®, Swift’s receiver-agnostic consumer software program positioning engine and all kinds of each Swift and third-party suitable receiver choices. Swift’s platform works with single and multi-frequency, multi-constellation automotive and commercial-grade GNSS measurement engines and chipsets, providing firms a selection in selecting the right parts for his or her autonomous sensor suite.
Skylark is now a world community, delivering real-time, safe and highly-available exact location information throughout the contiguous U.S., Europe, Japan, South Korea, Australia and a rising variety of international locations worldwide, together with Canada and Taiwan—to ship absolute positioning on the continental scale required by immediately’s safety-critical purposes. Skylark has been independently rated in opposition to different CORS (Continuously Operating Reference Station) networks as offering the best ranges of security, accuracy and availability.
Recognizing that every business makes use of exact positioning otherwise, Swift has constructed particular software program and receiver platforms for every utility—from automotive to cellular to industrial machine management—to resolve the distinctive issues that precision location poses for them.
Swift’s expertise can also be at the forefront of enhancements to cell phone positioning, supporting new purposes, resembling navigation, site visitors and augmented actuality. Swift helps clients in monitoring and enhancing security throughout continent-wide rail networks, it supplies exact place (enhanced RTK) to subsequent technology machine management and steering techniques for agriculture, building and robotics and a number of different purposes throughout each rising and conventional GNSS markets.
To be taught extra about how you can simply combine Swift’s options into your utility, go to swiftnav.com or contact gross [email protected].
ABOUT SWIFT NAVIGATION
Swift Navigation is altering the best way we navigate and perceive our planet. Swift’s exact positioning expertise platform improves location accuracy from a number of meters to centimeter-level and is utilized by thousands and thousands of gadgets throughout the globe. Swift’s expertise is trusted by customers throughout industries, enabling safer driving, enhancing effectivity for last-mile supply and industrial transport operations, rising accuracy for cellular gadgets and creating new potentialities for rail, robotics and machine management. Learn extra about how Swift is constructing a safer and extra related future at swiftnav.com. Follow Swift on Twitter @Swiftnav
Press Contact:
Swift Navigation
[email protected]
