
NordNav Technologies
NordNav Technologies is a developer of software GPS receivers for the mobile and automotive markets.
Date | Investors | Amount | Round |
---|---|---|---|
investor investor investor | €0.0 | round | |
$75.0m Valuation: $75.0m | Acquisition | ||
Total Funding | 000k |
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NordNav Technologies AB was a Swedish technology firm established in 2002, specializing in the development and licensing of software-based GPS receivers for the mobile and automotive sectors. The company was founded by a team of researchers from Luleå University in Sweden and Stanford University in the United States, including Professor Dennis M. Akos. Dr. Akos brought extensive expertise to the venture, having pioneered the software radio concept for GPS/GNSS and holding a Ph.D. focused on software radio design for GPS receiver architectures.
The company's core business centered on licensing its proprietary software receivers for GPS and Galileo satellite navigation systems. NordNav's technology enabled the integration of high-quality location functionality into a wide array of portable devices such as mobile phones, PDAs, and digital cameras, as well as into automotive navigation systems. The primary value proposition was a software-centric approach that offered a low-cost, high-performance alternative to traditional hardware-based GPS solutions. This model was designed to drive mass-market adoption by significantly reducing the bill of materials for manufacturers of mobile handsets and other portable electronics.
In June 2005, NordNav secured an undisclosed amount in a Series A funding round from venture capital firms including 3i Group, Innovationskapital, and Smac Partners. This investment fueled the company's development efforts. A significant milestone occurred on January 12, 2007, when NordNav was acquired by CSR plc, a UK-based leader in Bluetooth technology. The acquisition involved an initial cash payment of $40 million, with a potential for an additional $35 million based on performance milestones. CSR's strategy was to integrate NordNav’s software GPS with its own Bluetooth technology to offer a highly competitive, low-cost mobile GPS solution, aiming for a price point below $1 per unit. Keywords: software GPS, GPS receiver, satellite navigation, location technology, mobile positioning, automotive navigation, GNSS software, embedded GPS, asset acquisition, CSR plc, Dennis Akos, Luleå University, Stanford University, 3i Group, Innovationskapital, location-based services, portable device navigation, Galileo system, software radio, GPS licensing