US-based chipmaker Swift Navigation has raised $2.6m in a round of funding led by First Round Capital to expand the product offering, as well as expand the usage of its low cost GPS module in new range of devices.
Swift has developed a new GPS module named Piksi, which is said to offer centimetre-accurate GPS that can be used in a wide range of applications including drones, construction applications and agriculture.
The new module costs much less compared to chips with the same level of accuracy, because Swift has used low cost components to develop the module.
The chip also uses Real Time Kinematic, a technique used to enhance the capability of the chip to position data derived from GPS.
The company said that the chip measures 1.5"" x 1.5"", just like other modules but it provides better details.
The chip is sold for $975 to $10,000, and the company's $500 chip can be used for drone navigation and agriculture automation.
Swift was started fund raising through Kickstarter campaign in 2013, and now it has sold more than 1,000 modules, reported TechCrunch.