Yaletown Partners Invests in oneNav: Pioneering GNSS Advancements
September 12, 2023
We are pleased to announce our investment in oneNav, a company that operates in the realm of Global Navigation Satellite Systems (GNSS). oneNav, a leading force in high-performance positioning for location-dependent mobile services, has achieved remarkable milestones, including the completion of their most recent Series C funding round.
oneNav, headquartered in Sunnyvale, California, has introduced the pureL5 Acquisition Receiver Core (pARC), a groundbreaking GNSS augmentation product. This technology enhances GNSS performance in various devices, including smartphones, smartwatches, and IoT trackers, meeting the rising demand for superior positioning and measurement capabilities.
oneNav’s recent funding round was spearheaded by MVP Ventures, a renowned venture capital firm with a track record of identifying transformative technologies. This funding success underscores the continued confidence of previous investors in oneNav’s vision including Google Ventures, GSR Ventures, Norwest Venture Partners, and In-Q-Tel.
oneNav is led by a team of technology veterans, including co-founder and CEO, Steve Poizner, who built and then sold his company, SnapTrack, to Qualcomm at a unicorn valuation, building and selling two successful ventures thereafter. He was then inducted into the Silicon Valley Engineering Hall of Fame in 2014.
CEO, Poizner expressed, “There’s a substantial demand for significantly improved GNSS performance in phones, watches, and IoT trackers. This new funding will be used to enhance our support for numerous tape outs in 2023 and 2024.” Ellen Kirk, Vice President of Strategic Marketing and Business Development at oneNav, highlighted the value of their pureL5 pARC product, stating, “[pARC] is a standalone solution. Customers have invested extensive time in their measurement and positioning engines—they won’t replace them. What they lack is direct L5 acquisition. All hybrid solutions acquire L1 first, then L5.” [Source: Kevin Dennehy, Location Business News]
To explore oneNav’s transformative technology and vision further, please visit their official website at www.onenav.ai
Yaletown Partners is proud to be part of this groundbreaking journey with oneNav, as we collectively shape the future of GNSS technology.
Link to Official Press Release: The word is out: &17M and pARC launch – oneNav – The Next Generation of Mobile GNSS
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