Milan, 12 February 2021 – Sequitur Capital, an independent firm that invests in scaleup candidates in the deep tech and software B2B space in Europe and the United States, announces the closing of its investment in the $50 million Series C Round of Swift Navigation, a San Francisco-based company. The proceeds of this round will be used by Swift Navigation to scale customer deployments and continue its worldwide expansion.
Swift Navigation has developed high-precision positioning technology for autonomous vehicles, automotive, mobile, and mass-market applications. The combined value of these markets in 2020 was estimated at $6 billion, which are expected to reach $15 billion by 2025. Swift’s customers across the globe include automotive OEMs, last-mile delivery providers, mobile providers and those building rail, industrial, micromobility and IoT platforms.
Sequitur Capital participated through an SPV in the $50 million Series C Round, which included existing investors Forest Baskett and Greg Papadopoulos of New Enterprise Associates (NEA), a top tier Venture Capital firm with offices in the United States, existing investor Eclipse Ventures and new investors, including EPIQ Capital Group and KDDI Open Innovation Fund.
The group led by Sequitur Capital includes Mercurio Capital Partners, a New York-based firm specializing in private investments, and other HNWI.
“This investment is in line with Sequitur’s mission of supporting Tech companies willing to scale and expand internationally, including Europe and Italy, where Swift has some strong business partnerships”, said Marco Di Miceli, Partner of Sequitur Capital in Milan.
Massimo Fasoli, Partner of Sequitur Capital in Milan, added: “The benefits of Swift’s precise positioning solution are massive, and their recurring revenue subscription service model perfectly fits with our investment thesis”.
“Once again, we capitalized on our US presence and international network to gain access to a very interesting opportunity and execute it smoothly”, said Anastasio Scalisi, Partner of Sequitur Capital in Los Angeles.
About Swift Navigation – Swift Navigation provides precise positioning solutions for automotive, autonomous vehicle, mobile and mass-market applications. What began as the GNSS industry’s first low-cost, high-accuracy, real-time kinematic (RTK) receiver has evolved into a Swift Navigation ecosystem of positioning solutions for autonomous applications. From the continental GNSS precise positioning service delivered from the cloud by Skylark™, the hardware-independent, integrated software solution that is the Starling® positioning engine, to the centimeter-level accurate Piksi® Multi and ruggedized Duro® and Duro Inertial RTK receivers, Swift Navigation is enabling a future of autonomous vehicles to navigate and understand the world. For more information on Swift Navigation visit www.swiftnav.com
About Sequitur Capital – Sequitur Capital is an independent firm with presence in Milan, Italy, and Los Angeles, California, specialized on fast-growing, deep tech companies focused on software technology and with a B2B model. Sequitur Capital invests alongside family offices, entrepreneurs and other financial institutions under the structure of club deal transactions. For more information on Sequitur Capital visit www.sequitur-capital.com