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Level One Navigation is a developer of a location and mapping system designed to help automotive automobiles. The San Francisco-based startup has developed an API for the exact location relevant to any car that strikes, from city air taxis and drones to scooters, ADAS-equipped automobiles, autonomous automobiles, and even farm tools.
Level One Navigation was funded $10 million Sequence A spherical of funding. UP Companions led the brand new funding with participation from current buyers, together with BOLT, IA Ventures, Ludlow Ventures, and strategic angel buyers.
The corporate plans to make use of the funding to develop operations, develop extra automotive mapping techniques and its enterprise attain.
Level One Navigation’s API is a useful resolution for automotive OEMs, trucking corporations, drone producers, heavy tools, supply companies, and client electronics that depend on exact places for protected and efficient operation. The corporate’s know-how permits centimeter-level international accuracy by combining augmented GNSS, laptop imaginative and prescient, and sensor fusion in a robust but easy-to-use API suitable with all kinds of current platforms.
The co-founder and managing associate of UP Companions, Ben Marcus, mentioned Exact location is important for protected and efficient operations throughout all areas of mobility and transportation – from vehicles and drones to vans and heavy equipment. The staff at Level One Navigation is fixing an actual problem, combining unparalleled technical chops with proactive options for the shortly evolving transferring world.
Immediately, Level One’s product start delivery a couple of yr in the past, is in sequence manufacturing with two unname automotive prospects. Level One can deploy this tech as a software program product in these automotive purposes since new automobiles right now have the {hardware} already required. Level One may additionally want to incorporate a chipset with different prospects, like, a scooter firm.
The corporate initially give attention to automotive, together with being apply to Degree 2 superior driver help techniques. Nevertheless, the 20-person firm is now specializing in increasing to new segments, together with micro-mobility. Level One additionally has manufacturing offers with agriculture prospects as properly within the drone supply part.
By: Okay. Tagura
Writer assertion:
Funded.com is the main platform for accredited buyers community worldwide. We monitor and supply updates on vital funding occasions. Angel Traders and Enterprise Funding is usually a key development for a startup or current enterprise. Whether or not it’s a first, second or third spherical financing having a strategic alliance with an Angel Investor or Enterprise Capital financing can propel a enterprise to the subsequent stage and provides the aggressive edge.
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