Total amount raised
$15 Million
Latest funding date
8/1/2022
Location
Xona Space Systems has successfully raised funding over 13 rounds, with the latest being a Series B round led by Craft Ventures. The company is backed by a total of 32 investors, including notable names like NGP Capital and SpaceWERX.
Keep reading to explore the intricacies of Xona Space Systems' fundraising journey and the investors backing this innovative satellite navigation platform.
What Is Xona Space Systems?
Xona Space Systems is a private company based in Burlingame, California, specializing in satellite navigation and space technology. The company operates in multiple industries, including aerospace, GPS, information services, navigation, satellite communication, and software.
Founded with the mission to launch a Low Earth Orbit (LEO) satellite network, Xona aims to provide real-time, centimeter-level certainty to any device on Earth. The company employs between 51 to 100 people and is currently advancing its Pulsar satellite system to offer enhanced positioning, navigation, and timing (PNT) services.
How Much Funding Has Xona Space Systems Raised?
- Series B
- Amount Raised: USD 92,000,000
- Date: June 2025
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and deployment of their LEO satellite network and related technologies.
- Grant
- Amount Raised: USD 20,000,000
- Date: June 2025
- Lead Investors: SpaceWERX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further the development of their satellite navigation technology.
- Series A
- Amount Raised: USD 19,000,000
- Date: May 2024
- Lead Investors: Future Ventures, Seraphim Space
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the deployment of Xona's LEO satellite network and begin beta operations of their Pulsar satellite service.
- Grant
- Amount Raised: USD 100,000
- Date: April 2023
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development of their satellite technology.
- Series Unknown
- Date: August 2022
- Lead Investors: First Spark Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for ongoing projects.
- Grant
- Amount Raised: USD 999,995
- Date: July 2022
- Lead Investors: National Science Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance research and development in satellite navigation.
- Series Unknown
- Amount Raised: USD 10,000,000
- Date: April 2022
- Lead Investors: 1517 Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the initial phases of their satellite network deployment.
- Seed
- Amount Raised: USD 8,000,000
- Date: September 2021
- Lead Investors: Seraphim Space
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their satellite navigation system.
- Grant
- Amount Raised: USD 100,000
- Date: April 2021
- Lead Investors: NGA Accelerator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial research and development efforts.
- Non-Equity Assistance
- Date: September 2020
- Lead Investors: Creative Destruction Lab (CDL)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic guidance and support for their business model.
Total Amount Raised: USD 150,199,995. Current Valuation: Not publicly disclosed.
Key Investors
- Craft Ventures
- Details: Craft Ventures is a venture capital firm known for its investments in early-stage and growth-stage companies. They have a strong track record in supporting innovative startups.
- Investment Focus Areas: Early-stage companies, growth-stage companies, technology.
- Notable Investments: SpaceX, Reddit, Bird.
- SpaceWERX
- Details: SpaceWERX is the innovation arm of the U.S. Space Force, focusing on advancing space technology and defense capabilities. They support startups that contribute to national security and space exploration.
- Investment Focus Areas: Space technology, defense, national security.
- Notable Investments: Various space and defense startups.
- Future Ventures
- Details: Co-founded by Steve Jurvetson, Future Ventures is a venture capital firm that invests in transformative technologies. They aim to support companies that have the potential to change the world.
- Investment Focus Areas: Frontier technologies, space technology, deep tech.
- Notable Investments: SpaceX, Tesla, Neuralink.
- Seraphim Space
- Details: Seraphim Space is a venture capital firm specializing in the space sector. They invest in companies that are developing cutting-edge space technologies.
- Investment Focus Areas: Space technology, satellite communications, Earth observation.
- Notable Investments: Spire, Iceye, D-Orbit.
- First Spark Ventures
- Details: First Spark Ventures is a venture capital firm that focuses on early-stage technology companies. They aim to support innovative startups with high growth potential.
- Investment Focus Areas: Early-stage technology companies, innovation, tech startups.
- Notable Investments: Various tech startups.
What's Next for Xona Space Systems?
Xona Space Systems is poised to revolutionize the satellite navigation industry with its PULSAR™ service, offering high-precision navigation crucial for autonomous systems in agriculture, automotive, and defense. The deployment of their LEO satellite network presents a significant opportunity to enhance accuracy, availability, and security over traditional GPS systems.
With the successful Series A funding round, future fundraising opportunities are likely as Xona scales its operations and technology. The involvement of high-profile investors indicates strong market confidence, suggesting potential for further investment rounds to support their ambitious goals.
However, Xona faces challenges such as technical hurdles in satellite deployment, ensuring compatibility with existing systems, and competing with established GPS providers. Overcoming these obstacles will be crucial for their continued success and growth in the rapidly evolving satellite navigation market.
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