Xona raises $250M Series D at $2.45B valuation for GPS alternative

Startup Xona raised $250 million in a Series D round at a $2.45 billion valuation. The company plans to deploy a 258-satellite low-Earth orbit constellation as a commercial alternative to GPS.

• Series D round: $250M at a $2.45B valuation
• Planned constellation: 258 satellites in low Earth orbit
• Positioned as a commercial alternative to GPS