Nestwave announced that it has secured a ‘2.4 million round of financing from the European Innovation Council, the European Commission’s newly established venture capital fund, and from current investors Sofimac Innovation and The Faktory Fund. The new financing round will enable Nestwave to further accelerate the rollout of its hybrid-signal global navigation satellite system (GNSS) and cellular positioning technologies. The Nestwave solution reduces power consumption significantly compared to traditional GNSS offerings while eliminating the need for a dedicated positioning chipset.
Source: https://www.helpnetsecurity.com/2021/04/15/nestwave-funding/