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Total amount raised
$305 Million
Latest funding date
2026-03-26
Location
Xona Space Systems has raised a total of at least $305M across seven disclosed rounds, most recently a $170M Series C in March 2026 led by Mohari Ventures Natural Capital, with backing from Craft Ventures, ICONIQ Capital, Woven Capital, NGP Capital, Samsung Next, Hexagon, and others.
What Is Xona Space Systems?
Xona Space Systems is a Burlingame, California-based aerospace startup founded in 2019. The company is developing Pulsar, a commercial low Earth orbit (LEO) satellite navigation service designed as a high-precision, resilient alternative to GPS. Pulsar broadcasts encrypted, high-power navigation signals from LEO, providing centimeter-level accuracy and increased resistance to jamming and spoofing. Xona's first demonstration satellite, Pulsar-0, was launched in June 2025. The company is building toward a 258-satellite constellation to deliver Position, Navigation, and Timing (PNT) services globally for autonomous vehicles, drones, defense, and critical infrastructure. Its funding journey runs from a $990,000 pre-seed round in May 2020 to a $170M Series C closed in March 2026.
How Much Funding Has Xona Space Systems Raised?
- Pre-Seed Round
- Amount Raised: USD 990,000
- Date: May 2020
- Lead Investors: Seraphim Space (Capital)
- Participants: Trucks Venture Capital, 1517 Fund, Stellar Solutions
- Seed Round
- Amount Raised: USD 8,000,000 to 10,000,000 (disclosed early seed tranches)
- Date: September 2021
- Lead Investors: Seraphim Space
- Participants: Toyota Ventures, 1517 Fund, MaC Venture Capital, Stellar Ventures, Daniel Ammann, Ryan Johnson
- Seed Extension / Venture Round
- Amount Raised: USD ~15,000,000 (Approx.; total seed-era raised ~$25M+ per company)
- Date: August 2022
- Lead Investors: First Spark Ventures
- Participants: Seraphim Space, Lockheed Martin Ventures, Toyota Ventures, Gaingels, 1517 Fund, MaC Venture Capital, Space.VC, SRI Ventures, Airstream Venture Partners
- Series A
- Amount Raised: USD 19,000,000
- Date: May 8, 2024
- Lead Investors: Future Ventures, Seraphim Space
- Participants: NGP Capital, Industrious Ventures, Murata Electronics, Space Capital, Aloniq
- STRATFI Grant (SpaceWERX / U.S. Space Force)
- Amount Raised: USD 20,000,000 (non-dilutive)
- Date: June 2025
- Lead Investors: SpaceWERX (U.S. Space Force innovation arm)
- Series B
- Amount Raised: USD 92,000,000 (includes $20M STRATFI; equity portion ~$72M)
- Date: June 26, 2025
- Lead Investors: Craft Ventures
- Participants: Stellar Ventures, Seraphim Ventures, Toyota Ventures, First Spark Ventures, Industrious Ventures, Future Ventures, NGP Capital
- Series C
- Amount Raised: USD 170,000,000
- Date: March 26, 2026
- Lead Investors: Mohari Ventures Natural Capital
- Participants: Craft Ventures, ICONIQ, Woven Capital, NGP Capital, Samsung Next, Hexagon, and other new and existing investors
Total Amount Raised: at least $305M based on disclosed funding across all rounds, counting the low end of the disclosed seed tranches and counting the $20M STRATFI award only once, since it is already included in the $92M Series B total. As of September 2026, the company's latest disclosed round is its March 2026 Series C.
Key Investors
- Mohari Ventures Natural Capital
- Details: Lead investor in the $170M Series C (March 2026). Mohari Ventures Natural Capital focuses on next-generation infrastructure and sustainability-linked technology.
- Craft Ventures
- Details: Lead investor in the Series B (June 2025) and participant in Series C. Sky Dayton of Craft Ventures joined Xona's board. Craft Ventures is a San Francisco-based VC firm specializing in early-to-growth-stage technology companies.
- NGP Capital
- Details: Investor across Series A, Series B, and Series C rounds, providing consistent backing to Xona through its growth stages. NGP Capital is a global venture fund focused on mobile technology and connectivity.
- Future Ventures
- Details: Co-lead investor in the Series A (May 2024), alongside Seraphim Space. Future Ventures backs transformative technology companies.
- Seraphim Space
- Details: Early and consistent backer of Xona from the Pre-Seed round through Series B. Seraphim Space is a leading space-focused venture capital fund and investor in deep-tech space companies.
- ICONIQ Capital
- Details: Participant in Xona's Series C. ICONIQ Capital is a diversified financial institution and investment firm serving a select group of the world's most consequential families and organizations.
What's Next for Xona Space Systems?
With $170M in fresh capital from its March 2026 Series C, Xona is scaling Pulsar satellite production at its satellite manufacturing facility in Burlingame, California, and accelerating deployment of its 258-satellite LEO constellation. The company's first production-class satellites are scheduled for launch by the end of 2026, with commercial services for autonomous vehicles, defense, and critical infrastructure following. Xona's government work, including its $20M STRATFI agreement with the U.S. Space Force, and the addition of strategic backers such as Samsung Next and Hexagon in the Series C point to continued institutional support for its PNT infrastructure as an alternative to GPS.
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