Fixposition Raises CHF 3.35M to Grow the Team, Expand the Product Portfolio and Enter the Global Market

19.12.2019 17:14, Guillaume Tinsel

Navigation technology startup Fixposition just announced securing a CHF 3.35M seed financing round led by Silicon Valley firm True Ventures. The funds will be used to grow the Fixposition team, expand the company’s product portfolio, and enter the global market.

Fixposition, a Swiss company offering software and hardware which provide robust, highly accurate position information to autonomous robotic systems even in obstructed environments, today announced it has closed a seed financing round of CHF 3’350’000. The financing round is led by True Ventures with contributions from Hasler Stiftung, DeepTech Ventures community, industry expert Daniel Ammann and a private investor Qu Yunpeng.

Fixposition offers its high-precision Global Navigation Satellite System (GNSS) technology and computer vision-based navigation devices to a number of customers in market segments such as 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, 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.

As part of the financing round, a new board of directors has been elected. Daniel Ammann, co-founder of u-blox AG, assumed the role of the chairman of the board. He will be bringing relevant industry experience based on his work in the navigation industry to the table. 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.

The idea began in the Pioneer Fellowship Program at ETH Zürich and grew with the help of the ESA Business Incubation Centre Switzerland. Since then, Fixpostion ranked among the most promising Swiss-based startups at the TOP 100 Swiss Startup Award in 2018 and 2019, was part of the Venture Leaders China Team 2018 and also won Venture Kick stage 2 the same year.