Tuesday, December 8, 2015

Swift Navigation Finds $11M For Low Cost GPS Receivers

San Francisco-based Swift Navigation, which develops a low cost, highly accurate GPS receiver kit, has raised $11M in a Series A funding, the company said today. The funding came from Lior Susan and Pierre Lamond of Eclipse, along with New Enterprise Associates and Promus Ventures, plus prior backers First Round Capital, Felicis Ventures, Fall Line Capital, Qualcomm Ventures and Lemnos Labs. Lior Susan joins the company's board with the funding round. Swift Navigation says its GPS receivers are 100's of time more accurate than the GPS chips used in a typical cell phone, at a fraction of the price of the competition. The company is initially targeting self driving, autonomous vehicles with its technology. More information »