Xona Space Systems said Oct. 22 it completed a $250 million Series D at a $2.45 billion valuation. Future Ventures led the financing, and Xona said new and existing backers participated without disclosing individual amounts.
The round takes Xona’s cumulative funding above $570 million, the company said. Forbes reported that Future Ventures contributed $78.5 million.
Xona said it plans to expand production and its fleet.
Steve Jurvetson, a Future Ventures co-founder, was among SpaceX's early investors and later joined its board.
Xona’s stated target is to begin customer operations through four satellites in 2027. The planned network is designed to supplement GPS and is part of the company’s satellite navigation service plans.
