FocalPoint raises £23m Series C funding round to scale GPS accuracy technology
The financing round was co-led by Molten Ventures and Gresham House.
FocalPoint develops positioning technology for mobile devices, wearables and vehicles to improve GNSS accuracy and counter signal spoofing.
Cambridge deep tech company FocalPoint has raised up to £23m in a Series C funding round co-led by Molten Ventures and Gresham House. The company plans to use the capital to scale customer support operations, expand research and development teams, and pursue new opportunities in radio technologies such as 5G and WiFi.
The latest investment follows previous backing from the European Space Agency earlier in the year. FocalPoint aims to deploy the funds to accelerate its intellectual property portfolio growth and meet rising demand from major customers in the United States and South East Asia.
The firm was established in 2015 as a spinout from Cambridge University by Dr. Ramsey Faragher. Its core Supercorrelation software is designed to measure incoming signal directions, helping receivers in urban environments ignore reflected and spoofed signals.
From the founder
"We are delighted at this show of confidence in FocalPoint from new and established investors amidst a challenging market backdrop. Our IP portfolio is strong, this injection of capital will enable us to move faster to meet the demands of several big customers in the US and South East Asia, and to accelerate our IP portfolio growth."
Scott Pomerantz
CEO at FocalPoint
Use of funds
- 01Fund research and development
- 02Scale operations
Investors
About the company
FocalPoint
FocalPoint builds next-generation positioning and navigation solutions for mobile devices, wearables and vehicles.