Xona Space Systems has secured $250 million in a Series D funding round led by Future Ventures cofounder Steve Jurvetson. This investment brings the company's total funding to over $570 million since its inception in 2019 and values the business at $2.45 billion.
The capital will support the production of the Pulsar commercial GPS constellation, which aims to provide centimeter-level precision and enhanced jamming resistance. Xona plans to reach an annual production capacity of 50 satellites by the end of 2027, with the full constellation eventually comprising approximately 258 satellites.
The company recently launched six Pulsar satellites via a SpaceX rideshare mission, including four units built with Aerospacelab and two in-house test satellites. Xona also received CAD 15 million, approximately $10.7 million, from the Canadian government to expand operations in Montreal.
Xona has already received FCC approval to broadcast L-band signals and intends to test integrations with US military branches next year. The firm is also preparing to provide initial timing services to early commercial users in 2027, supported by a new production facility in Burlingame, California.
