Point One Navigation is a developer of a location and mapping system designed to assist automotive vehicles. The San Francisco-based startup has developed an API for the precise location applicable to any vehicle that moves, from urban air taxis and drones to scooters, ADAS-equipped vehicles, autonomous vehicles, and even farm equipment.
Point One Navigation was funded $10 million Series A round of funding. UP Partners led the new investment with participation from existing investors, including BOLT, IA Ventures, Ludlow Ventures, and strategic angel investors.
The company plans to employ the investment to expand operations, develop more automotive mapping systems and its business reach.
Point One Navigation’s API is a helpful solution for automotive OEMs, trucking companies, drone manufacturers, heavy equipment, delivery services, and consumer electronics that rely on precise locations for safe and effective operation. The company’s technology enables centimeter-level global accuracy by combining augmented GNSS, computer vision, and sensor fusion in a powerful yet easy-to-use API compatible with a wide variety of existing platforms.
The co-founder and managing partner of UP Partners, Ben Marcus, said Precise location is vital for safe and effective operations across all areas of mobility and transportation – from automobiles and drones to trucks and heavy machinery. The team at Point One Navigation is solving a real challenge, combining unparalleled technical chops with proactive solutions for the quickly evolving moving world.
Today, Point One’s product begin shipping about a year ago, is in series production with two unname automotive customers. Point One can deploy this tech as a software product in these automotive applications since new vehicles today have the hardware already required. Point One might also need to include a chipset with other customers, like, a scooter company.
The company initially focus on automotive, including being apply to Level 2 advanced driver assistance systems. However, the 20-person company is now focusing on expanding to new segments, including micro-mobility. Point One also has production deals with agriculture customers as well in the drone delivery section.
By: K. Tagura
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