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Business/Financial

Lockheed Martin Ventures Participates In Funding Round For Xona Space

By Cal Biesecker

Wednesday, August 3rd, 2022

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Lockheed Martin Ventures Participates In Funding Round For Xona Space

Xona Engineer Nick Manglaviti setting up hardware-in-the-loop testing at Xona’s R&D lab in San Mateo, California. (Photo: Xona Space Systems)

Xona Space Systems, a small company developing low earth orbit (LEO) satellites for global positioning and navigation services as an alternative to the GPS constellation, has closed a new funding round that includes Lockheed Martin’s [LMT] investment arm. The latest funding round, led by First Spark Ventures, brings California-based Xona’s total funding to over $25 million. Xona said the new funding will accelerate its development of its Pulsar system, which the company says will “provide resilient and trusted centimeter-level position…

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