Naverus raises $10 million round
Naverus has raised $10 million in a Series C preferred stock round to expand its business of providing navigation services for airlines and fleet operators.
The company’s web site says it re-architects airline routes so that the fleets can fly with better energy efficiency, increased payload, better access to airports with limited gates, and overall better safety.
Dan Gerrity, former CEO of Coinstar, has been CEO of the Kent, Wash.,-based company for the past five years. Investor include East Peak Partners of San Francisco and Foundation Capital in Menlo Park. Customers include major airlines from Air China to Southwest Airlines. Partners include Boeing and Airbus.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.