Zephr, a Boulder, CO-based developer of next-generation GPS technologies, raised $3.5m in seed funding.
The round was led by Space Capital and First Spark Ventures.
The company intends to use the funds to support its rapid growth over the next year.
Founded in 2022 by Dr. Sean Gorman, Dr. Pramukta Rao, Dr. Kostas Stamatiou and Scotty Nelson, Zephr is a developer of GPS technologies that deliver location accuracy and reliability for all users, while at the same time ensuring user privacy. Its enhanced patent-pending GPS technology leverages a multi-receiver system to turn users’ mobile devices into base stations which generate ensemble error corrections to improve GPS accuracy, down to an average result of sub-60cm. Through interconnected GNSS (global navigation satellite system) measurements across multiple devices, Zephr’s networked GPS system eliminates common errors and inaccuracies, while also guaranteeing a stable and reliable signal that is at less risk of interference. Zephr’s GPS solution can improve cost savings and revenue opportunities for a wide range of industries, including navigation, delivery/logistics, rideshare, auto insurance, agriculture, advertising, location-based apps and more. It also enables new/emerging fields, such as autonomy (from vehicles to robotics and drone-based delivery systems), augmented reality, location-based gaming and smart cities.
FinSMEs
02/11/2023