Xona Raises $250 Million to Remake 50-Year-Old GPS

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Xona – a startup working to improve GPS with a new purpose-built commercial satellite navigation network – has raised $250 million at a $2.45 billion valuation. Xona CEO and co-founder Brian Manning discusses the difference the company’s smaller, more scalable satellites make, its recent regulatory approvals and plans for commercialization. Manning joins Ed Ludlow on “Bloomberg Tech." (Source: Bloomberg)

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