Xona Space Systems raised $250 million to expand its satellite navigation business as it prepares four spacecraft to begin serving customers in 2027, adding a planned service alongside GPS.
The Series D values the company at $2.45 billion and brings its total capital raised to more than $570 million, Xona said Oct. 22. Future Ventures led the round. Xona said new and existing investors took part but did not name them. Forbes reported that Future Ventures invested $78.5 million; Xona’s announcement did not specify individual contributions.
Xona said it will use the money to increase production, add satellites and develop the operating capacity for worldwide service. The company did not disclose how it would divide the funding among those areas.
Six Pulsar satellites launched earlier in the week, the company said. The launch included the first pair of spacecraft built through Xona’s own design and manufacturing work. The other four are expected to start providing customer service in 2027.
Xona describes Pulsar as a low-Earth-orbit navigation network that would work alongside GPS. The company says compatible commercial receivers can support its signal without hardware replacement. It also reported that its Pulsar-0 demonstration satellite completed more than 500 transmissions, with positioning accuracy better than two centimeters.
Xona argues that existing navigation systems are difficult to upgrade after deployment. It cites autonomous machines and critical infrastructure as users that need precise, resilient positioning and timing signals.
The Federal Communications Commission (FCC) issued a public notice Aug. 7 recording an action dated July 31 on Xona’s application as granted in part and deferred in part, with conditions. Xona had described the decision as authorization to broadcast from its full planned constellation; the notice summary does not specify what was deferred.
The Government of Canada announced a C$15 million commitment Oct. 20 toward a C$64.8 million project by Xona Space Systems Canada, Inc., and forecast about 126 highly skilled jobs. The planned manufacturing and mission operations site is part of Xona’s Montréal expansion. Xona’s stated next milestone is for four satellites to begin serving customers in 2027.
