The round was led by Steve Jurvetson's Future Ventures, with participation from new and existing investors. A longtime SpaceX board member, Jurvetson is an early backer of Xona and has invested in just three space companies throughout his career: SpaceX, Planet and Xona. The financing values Xona at $2.45 billion and brings its total capital raised since 2019 to more than $570 million.

Xona is the navigation company bringing centimeter-level certainty to any device, anywhere on Earth. Pulsar, the company's commercial upgrade to GPS, broadcasts from purpose-built satellites in low Earth orbit to deliver unprecedented precision, stronger signals, and built-in protection against jamming and spoofing to the billions of devices that rely on GPS today.