Navmatic Raises $4 Million to Bring Reliable Positioning Services to Micromobility

• Navmatic is a provider of precise positioning services, enabling centimeter-level accurate location and advanced rider behavior tracking
• Navmatic’s product suite includes solutions to improve rider safety, manage fleets effectively, and improve urban mobility by allowing operators to work closely with municipalities to adhere to local regulations
• Lear Corporation’s Lear Innovation Ventures leads investment round and will work with Navmatic for the continued development of high-accuracy positioning in both automotive and non-automotive industries.

Navmatic, a provider of end-to-end high-accuracy positioning solutions for micromobility, robotics and mobile phones, came out of stealth mode today, announcing it has raised $4 million in funding.

The investment was led by Lear Corporation’s Lear Innovation Ventures, others including UpWest, Next Gear Ventures, and several private investors. Lear and Navmatic will work together to leverage both companies’ expertise in positioning technologies.

High accuracy positioning is the backbone of micromobility in urban environments. The surge in micromobility services, such as shared scooters, has created challenges for cities as they attempt to regulate the burgeoning sector. Municipalities are struggling to understand rider behavior, which has a number of implications for public safety and insurance. Fleet operators also must precisely locate their vehicles to manage maintenance and operational efficiency issues, while customers need reliable vehicle accuracy information for optimal user experiences.

These challenges can all be solved with positioning that goes beyond standard GPS. Navmatic combines GPS with a host of additional inputs to improve location accuracy to within centimeters.

“Our strategic partnership with Navmatic will take our advanced GNSS technology from the automotive industry and apply it to the growing individual mobility sector,” said John Absmeier, Lear Chief Technology Officer. “This is another exciting example of Lear’s investment in technologies that are pushing the boundaries of expectations and improving the mobility user experience.”

“For years, GPS has been a significant part of our everyday lives. However, GPS wasn’t designed to work in urban areas. As micromobility continues to gain popularity in large cities, the fleet operators and municipalities face big challenges around ensuring rider safety and keeping our roads and sidewalks uncluttered and efficient,” said Boaz Mamo, Navmatic CEO and co-founder. “Our cloud-service and software-based approach provides high-accuracy positioning even in dense urban environments with no added infrastructure and in some cases without even having to modify the device.”

Boaz Mamo is a serial entrepreneur who was one of the founders of the ever-growing mobility ecosystem in Israel. Prior to founding Navmatic, Boaz was the Co-founder and CEO of Drive TLV, a mobility hub for promising early-stage startups in Tel Aviv. He was also the founder of EcoMotion, the largest Mobility conference in Israel for the last seven years, and Capsula, the first mobility incubator in Israel at Tel Aviv University.

About Navmatic
Navmatic’s solution combines a cloud correction service and robust on-device positioning engine, which includes proprietary sensor fusion and multipath mitigation algorithms. The result is an improvement of today’s GNSS positioning accuracy from as poor as 100 meters to as good as 50 cm. The technology allows micromobility companies to dramatically improve rider safety and unit economics. Operators can also meet the growing demands of the municipalities they operate in by using sophisticated geofencing to manage parking, control speed and monitor rider behavior. For more informtion, visit navmatic.io

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