Swift Navigation raises $100 million for precise vehicle navigation

Swift Navigation, a San Francisco-based GNSS tech firm, announced that it has completed $100 million in Series D Round financing. The financing round was led by SK Inc. and Potentum Partners with strong support from Swift’s existing investors. Swift’s technology powers several of the largest automotive and commercial vehicle fleets on the road today, supporting enhanced navigation and ADAS.

New investors include FM Capital, OVN Capital, TELUS Ventures, TWM Venture Co., Buckley Ventures, Schox Venture Capital and additional independent investors.

“We are delighted to be the lead investor for this financing transaction as part of our investment strategy in high-tech software companies,” said Subeom Lee of SK Inc. “We believe that Swift will contribute to advancing the new era of driverless technology.”

David Simons, founding partner of Potentum Partners, stated, “Centimeter-level position accuracy on a continent-wide scale is impressive enough, but what really excites us is Swift’s ability to provide it with extraordinary reliability, putting absolute-position data at the core of safety-critical features in automotive, automation and machine control,”

Since its Series C Round of financing, Swift has refined its global, centimeter-accurate precise positioning service and expanded its coverage across continents to meet the needs of an on-demand economy requiring higher levels of autonomy. Swift’s customers span the globe and include automotive OEMs and Tier 1s, last-mile delivery providers, mobile handset and application providers and those building rail, industrial machine control and IoT platforms for mass-market applications.

“We have an amazing group of investors behind us and are honored to see the many customers who are using Swift technology at such incredible scale as they build the future of transportation and automation,” says Swift CEO Timothy Harris. “[We thank] our loyal partners and investors at NEA, Eclipse and EPIQ and […] welcome the support of our new investors to help us deliver precise positioning across the world.”