FocalPoint Positioning raises £6m in Series B funding from Draper Esprit to accelerate product roll-out
The funding round was led by Draper Esprit to support the deployment of next generation positioning technology.
FocalPoint Positioning develops software and firmware designed to improve the accuracy and security of satellite navigation systems. Its technology is used across mobile devices, wearables, vehicles, and industrial internet of things applications.
FocalPoint Positioning has secured six million pounds in a Series B funding round provided by Draper Esprit. The capital will be directed towards accelerating the commercial deployment of the company positioning technology into chipsets and devices across mobile, wearable, vehicle, and internet of things sectors.
The Cambridge based firm specialises in resolving legacy limitations associated with global navigation satellite systems, including signal obstruction and vulnerability to spoofing. The fresh funding follows a Series A round raised in February 2017, arriving as the company scales its operations following recent commercial agreements.
From the founder
"This is an important moment for our team. Signing our first deal with u-blox to integrate Supercorrelation into a commercial chip has increased the demand for our products from a multitude of different industries and use cases. This funding will help us to meet that demand and enable Supercorrelation and D-Tail to improve the lives and businesses of people across the globe."
Ramsey Faragher
CEO at FocalPoint Positioning
Investor perspective
"The inaccuracy and security weakness of current GNSS technology is a global concern for consumers, policymakers and businesses alike, but Ramsey and the team at FocalPoint have made huge progress in solving both of these critical legacy issues. At Draper Esprit we’re really excited to be backing them through the next stage of growth as this next-generation positioning technology is rolled out to devices we all rely on."
David Cummings
Venture Partner, Draper Esprit
Use of funds
- 01Continue product development
Investors
Categories
About the company
FocalPoint Positioning
FocalPoint Positioning develops advanced satellite navigation software to improve positioning accuracy.