Shanghai-based satellite navigation firm Insight Position completed an A+ financing round on Friday worth tens of millions of yuan. CDH Fund provided key investment, while the firm’s existing shareholder Wenqin Capital made an additional contribution. The funds collected are mainly to be used for increasing investment in the R&D of high-precision positioning technology and launching operations across more scenarios.
The company focuses on high-precision GNSS (global navigation satellite system) correction data services as its core, LEO augmented navigation satellite constellation as its carrier, and global high-precision augmented navigation services as its future goal. The firm is deeply involved in transportation, agriculture and other related industries, and puts forward targeted solutions for specific scenarios.
“Tianshu-1” is the first LEO augmented navigation satellite to be launched by the company. Since its unveiling on October 14, 2021, it has completed the functional and performance tests required by the satellite on-orbit test outline, and the test results met the design objectives of the whole satellite.
On the basis of the “Tianshu-1” test satellite, the company plans to complete the development and launch of the phase I satellite in the business targeted constellation in early 2023, so as to provide regional services in different periods. To complete the construction of this Tianshu LEO augmented navigation constellation system, the company will provide continuous, uninterrupted, real-time, centimeter-level augmented navigation services for ground users.
In the future, the company will also cooperate with its industrial partners to create high-precision positioning solutions for industries such as intelligent driving, travel-sharing, precision agriculture, as well as solutions applied in various scenarios such as V2X and vehicle monitoring. The firm will also invent more application scenarios for its services by providing products with various standards for positioning accuracy.