Based in Zurich Fixposition, offering high-accuracy navigation sensors for autonomous robotic systems using satellite technology, has closed a seed financing round of CHF 3.35 million led by True Ventures to fund its global expansion plans. New board members have been elected following the round.
Fixposition offers its high-precision Global Navigation Satellite System (GNSS) technology and computer vision-based navigation devices to customers in the market segments of professional Unmanned Aerial Vehicles (UAVs), ground robotics and automotive.
The company, which was co-founded by Zhenzhong Su, Lukas Meier, Tonio Gsell and Lorenz Meier in 2017 is on a mission to increase the availability of high-accuracy position information to a broader range of applications and ensure even small and low-powered products can utilize this technology despite its complexity.
To achieve this ambition the startup has secured CHF 3.35 million in a seed round led by True Ventures with contributions from Hasler Stiftung, DeepTech Ventures community, industry expert Daniel Ammann and a private investor Qu Yunpeng. The proceeds from the round will enable the startup to grow the Fixposition team, expand the company’s product portfolio and enter the global market.
New board members elected
As part of the financing round, a new board of directors has been elected. Daniel Ammann, the co-founder of u-blox AG, assumed the role of the chairman of the board. He brings relevant industry experience from his work in the navigation industry. True Ventures Partner Rohit Sharma, who also joined the board, brings the power of the firm’s network of portfolio companies and startup founders to help Fixposition in its growth phase.
“From our first meeting, it was clear they had a command of some of the toughest challenges today in precise positioning solutions for UAVs and ground robotics. Their work as ETH Pioneer Fellows alongside Lorenz Meier builds upon the deep insights and research forged across navigation, robotics, drones and control systems at ETH Zürich”, said Sharma.
Jean-Jacques de Dardel, the former Swiss ambassador to China and France, also joined Fixposition’s advisory board. His excellent network in China, Switzerland and Europe, will be instrumental in the future growth of the company.
(Press release/ran)
Photo: Zhenzhong Su, CEO & Co-founder (right) and Lukas Meier, COO & Co-founder.
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