SAN FRANCISCO, Oct. 18, 2022 (GLOBE NEWSWIRE) — Swift Navigation, a San Francisco-based tech agency redefining GNSS (Global Navigation Satellite System) and exact positioning know-how for automotive ADAS (superior driver-assistance programs) and autonomy, industrial machine management, industrial transportation, cellular and rising mass-market functions, immediately introduced that it has accomplished a $100 million financing spherical. The Series D Round was led by SK Inc. and Potentum Partners with robust assist from Swift’s present buyers, together with New Enterprise Associates (NEA), Eclipse Ventures and EPIQ Capital Group. The Series D Round included new buyers: FM Capital, OVN Capital, TELUS Ventures, TWM Venture Co., Buckley Ventures, Schox Venture Capital and extra unbiased buyers. 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 international, centimeter-accurate exact positioning service and expanded its protection throughout continents to satisfy 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 functions.
Swift’s know-how is now powering a number of of the most important automotive and industrial automobile fleets on the highway immediately, supporting enhanced navigation and ADAS. Swift’s know-how improves automobile positioning for a extra environment friendly person expertise and streamlined routing when navigating, in addition to being a important part of the ADAS system and improved security, all leading to price financial savings. The accuracy delivered by normal GNSS is 3-30 meters, whereas Swift’s exact positioning answer delivers accuracy in centimeters.
Swift presents a complete GNSS platform, consisting of Skylark™, Swift’s international 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 appropriate receiver choices. Swift’s platform works with single and multi-frequency, multi-constellation automotive and commercial-grade GNSS measurement engines and chipsets, providing corporations a selection in selecting the right elements for his or her autonomous sensor suite.
Skylark is now a worldwide community, delivering real-time, safe and highly-available exact location knowledge throughout the contiguous U.S., Europe, Japan, South Korea, Australia and a rising variety of nations worldwide, together with Canada and Taiwan—to ship absolute positioning on the continental scale required by immediately’s safety-critical functions. 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 in another way, Swift has constructed particular software program and receiver platforms for every utility—from automotive to cellular to industrial machine management—to unravel the distinctive issues that precision location poses for them.
Swift’s know-how can be at the vanguard of enhancements to cell phone positioning, supporting new functions, similar to navigation, 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 steerage programs for agriculture, development and robotics and a bunch of different functions throughout each rising and conventional GNSS markets.
To study extra about how one 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 way in which we navigate and perceive our planet. Swift’s exact positioning know-how 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 know-how 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]
