Deep-tech firm FocalPoint has concluded a £23 million Series C funding round.
The Cambridge-based company focuses on global positioning system (GPS) accuracy issues.
The funding will enable FocalPoint to continue its mission to “revolutionise” the accuracy of GPS and other global navigation satellite systems (GNSS), it said.
The firm stated it would achieve this by scaling up customer support operations to meet the growing demands of equipment and chipset manufacturers, grow its R&D teams, and pursue other opportunities in radio technologies including 5G and WiFi.
The latest funding round was secured from a consortium of investors co-led by Moltern Ventures and Gresham House.
Scott Pomerantz, chief executive of FocalPoint, commented: “We are delighted at this show of confidence in FocalPoint from new and established investors amidst a challenging market backdrop.”
He added: “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.”
Latest News
-
AI tech ‘halves’ time taken to approve UK clinical trials
-
BYD UK celebrates 880% UK growth
-
Lloyds Bank customers deposit £3m with new app feature since launch
-
EU to ‘transfer oversight of crypto firms' to Esma
-
Jaguar Land Rover to restart operations after August cyber incident
-
xAI and X appoint Anthony Armstrong as finance chief as Musk reshapes executive ranks
.png)
The future-ready CFO: Driving strategic growth and innovation
This National Technology News webinar sponsored by Sage will explore how CFOs can leverage their unique blend of financial acumen, technological savvy, and strategic mindset to foster cross-functional collaboration and shape overall company direction. Attendees will gain insights into breaking down operational silos, aligning goals across departments like IT, operations, HR, and marketing, and utilising technology to enable real-time data sharing and visibility.
The corporate roadmap to payment excellence: Keeping pace with emerging trends to maximise growth opportunities
In today's rapidly evolving finance and accounting landscape, one of the biggest challenges organisations face is attracting and retaining top talent. As automation and AI revolutionise the profession, finance teams require new skillsets centred on analysis, collaboration, and strategic thinking to drive sustainable competitive advantage.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories