St. Louis Investors Fund Swiss Geospatial Startup
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- Published on October 26, 2021
- In Funding
Cliff Holekamp, Cofounder, Managing Director and General Partner at Cultivation Capital told EQ, "We are working to establish St. Louis as an international center for the geospatial industry, and I expect that investments in global firms will help to establish that."
Cultivation Capital has announced an investment in Fixposition, a Swiss company whose technology provides real-time high-precision positioning information in GNSS (global navigation satellite system) degraded and denied environments. The company was founded in 2017 as a spin-off from the Swiss Federal Institute of Technology, better known as ETH Zürich.
Fixposition has completed a $5.95 million financing round to bring the company’s next-generation product into production, execute their market strategy, and expand their portfolio through strategic partnerships in the autonomous navigation space. Fixposition will also use the funds to develop complementary services and prioritize customer integrations and support.
“Autonomy and digitalization in agriculture, logistics, and smart cities are the keys to solving global challenges such as food security, labor shortages, and the green energy transition. Fixposition is providing and continuously developing an indispensable component of autonomy: precise positioning that works everywhere,” said Zhenzhong Su, CEO and Co-Founder of Fixposition. “The new investment will help to expand production, accelerate go-to-market speed and explore new market opportunities.”
“Our next-generation product incorporates all the findings gained from closely working with our partners in the last year”, explains CTO and Co-Founder of Fixposition, Lukas Meier. “With the next release of our cutting-edge sensor fusion engine, along with all new hardware, we’ve pushed the performance and stability of the Vision-RTK product line to the next level, while also simplifying its integration and design-in-ability.”
“Fixposition is a category leader in computer vision and real-time kinematics sensor fusion technology (Vision-RTK), and we are eager to support their go-to-market strategy in the US”, said Paul Meier, Principal at Cultivation Capital. G&M Capital, Hasler Stiftung, MiraclePlus, Momenta, and True Ventures participated alongside Cultivation Capital in the round.
“We see tremendous opportunity for collaboration between the geospatial technology ecosystems in Switzerland and Greater St. Louis. Both have rich geospatial industry histories, leading institutions, outstanding sector specific human capital, and tremendous growth potential around this technology.”