Swift Navigation Brings In $34 Million
Wireless startup Swift Navigation completed $34 million in Series B financing. Four investors contributed to the round, including New Enterprise Associates, Eclipse Ventures, and First Round Capital.
Swift Navigation provides centimeter-accurate positioning for agriculture, drones, and construction. The company’s products claim to deliver 100 times better accuracy than the GPS services on cell phones, anywhere on earth, at a tenth of the price of the competition. Swift Navigation aims to enable a world where fields farm themselves, drones fly safely, and humans lay the foundations of the future.
In its announcement, the company said the influx of financial support will help Swift Navigation take customer deployments to scale while growing its team and investing in core engineering and R&D. The company plans to introduce additional next-generation products in 2017.