• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • RCR Wireless News
  • Enterprise IoT
  • Editorial Calendar
  • Advertise
  • Webinars
  • Reports
  • White Papers
  • Subscribe

In-Building Tech

Connecting CRE building technology buyers with CRE tech sellers

720×90

  • Industry
    • Office & Commercial
    • Data Center, Network Hotels
    • Government
    • Healthcare
    • Higher Ed
    • Hospitality
    • K-12
    • Laboratory & Scientific
    • Manufacturing
    • Multi-Family
    • Transportation: Airports, Rail, Ports
    • Smart City
    • Stadiums, Arenas, Venues
  • Tech
    • Drones
    • AI-Machine-Learning
    • Wi-Fi
    • Augmented Reality
    • IoT (platform, gateway)
    • Networks
    • 5G Resources
    • Microcontrollers
    • Microprocessors
    • Data Analytics
    • Wired Networks, Fiber
    • Wireless (Cell, DAS, BDA, Repeaters, Boosters)
    • Positioning, GPS, Navigation
    • Security
    • Sensors
  • Systems
    • Energy
    • Lighting
    • HVAC
    • Security
  • Functions
    • Automation
    • Building Management
    • Construction
    • Asset Management (EAM)
    • Materials
    • Maintenace (MRO)
  • Smart Buildings
  • News & Event Coverage
  • In-Building Wireless
  • About In-Building Tech
  • Qualcomm 5G Insights
You are here: Home / Positioning, GPS, Navigation / NextNav raises $120 million in debt to expand 3D geolocation services

NextNav raises $120 million in debt to expand 3D geolocation services

January 20, 2020 by Juan Pedro Tomás

 
building management

 

 

Three-dimensional geolocation specialist NextNav announced it has raised $120 million in debt and equity financing with the aim of launching phased 3D geolocation services across the U.S., the company said in a release.

Funds managed by affiliates of Fortress Investment Group led the round, with NextNav’s existing investor base, including Columbia Capital, Telcom Ventures, funds managed by Goldman Sachs Asset Management, L.P., NEA, Oak Investment Partners and Future Fund, all participating.

NextNav said it will use this round of capital for a phased deployment of its geolocation platform, known as Metropolitan Beacon System (MBS), starting with its precise “altitude determination” capability (“Z service”) enabling “floor level” determination in major urban markets across the U.S. Subsequent phases of the MBS deployment, which the company said is similar to GPS, will provide precise 3D position, navigation and timing indoors and in urban areas and can also act as a backup to GPS for critical infrastructure, mobile phones, IoT devices and autonomous systems, according to NextNav.

Current location services only provide horizontal position (or x-y) of the smartphone or IoT device; with the MBS platform’s phased deployment the vertical dimension (or “Z Axis”) can also be determined precisely — which the company categorizes at within 3 meters. The technology enables new capabilities, such as allowing wireless carriers to precisely geolocate callers in the “Z dimension” and meet the Federal Communication Commission’s latest 911 requirements, improve situational awareness for first responders, provide better context in commercial location-based services and determine precise altitude for drones and other autonomous systems.

“We are pleased to welcome Fortress to our investor group, and for taking the lead on a financing that we believe will have a transformational effect on location services and bring a new ‘dimension (Z)’ to commercial and public safety applications in the mobile, IoT and autonomous vehicles at scale,” said Ganesh Pattabiraman, NextNav’s co-founder and CEO.

“NextNav has the technology and the vision to pioneer a fundamentally new chapter for location-based services,” said Drew McKnight, managing partner of Fortress. “NextNav has built an extensive and impressive technology platform and we believe commercializing their Z-Axis service will be game changing for the industry.”

 

Related

Filed Under: Positioning, GPS, Navigation

About Juan Pedro Tomás

Juan Pedro covers Global Carriers and Global Enterprise IoT. Prior to Arden Media Company, Juan Pedro worked for Business News Americas, covering telecoms and IT news in the Latin American markets. He also worked for Telecompaper as their Regional Editor for Latin America and Asia/Pacific. Juan Pedro has also contributed to Latin Trade magazine as the publication's correspondent in Argentina and with political risk consultancy firm Exclusive Analysis, writing reports and providing political and economic information from certain Latin American markets. He has a degree in International Relations and a master in Journalism and is married with two kids.

Contact Juan Pedro at [email protected]

Primary Sidebar

Sponsors

Search

300×350

300×100

CommScope forsees CBRS taking shape

Categories

Top Posts & Pages

  • In-Building Tech: Technology Insights for Commercial Real Estate Professionals
    In-Building Tech: Technology Insights for Commercial Real Estate Professionals
  • How to use AI and ML to create a smart building
    How to use AI and ML to create a smart building
  • 3 things to consider when implementing a building automation system (BAS)
    3 things to consider when implementing a building automation system (BAS)

RSS Enterprise IoT Insights

  • T-Mobile US accelerator focuses on 5G AR experiences for smart glasses
  • IPv6 over LoRaWAN is go – LoRa Alliance promises new sectors, new apps
  • MachineQ launches hybrid BLE and LoRaWAN solution for indoor asset tracking

Recent Posts

  • Honeywell invests in RapidSOS emergency response data platform
  • ‘Buildings have to be programmable,’ says Cisco’s smart building lead
  • View to install smart windows at Skanska office project in Seattle

Archives

Tweets by InBuildingTech
  • RCR Wireless News
  • Enterprise IoT
  • Editorial Calendar
  • Advertise
  • Webinars
  • Reports
  • White Papers
  • Subscribe

Copyright © 2022 • Arden Media Company, LLC

 

Loading Comments...
 

    This site uses cookies to improve and personalize your experience and to display advertisements. This site may also include cookies from third parties. By using this site you consent to the use of cookies.AcceptPrivacy Policy