Hogan Lovells Represents NextNav in Raising US$120 Million to Launch Phased 3D Geolocation Services Across U.S.
Press releases
| 21
January
2020
Northern Virginia, Silicon Valley, 17 January 2020 – International law firm Hogan Lovells has advised NextNav, LLC, the leader in 3D geolocation services, in a US$120 million debt and equity financing. Funds managed by affiliates of Fortress Investment Group, LLC (“Fortress”) led the round, with NextNav’s existing investor base, including Columbia Capital, Telcom Ventures, funds managed by Goldman Sachs Asset Management, L.P., NEA, Oak Investment Partners and Future Fund, all participating.
NextNav is using this round of capital to deploy its geolocation platform known as Metropolitan Beacon System (“MBS”), which will improve situational awareness for first responders, provide better context in commercial location-based services and determine precise altitude for drones and other autonomous systems. More about the terms of the launch of the new platform can be found here.
The Hogan Lovells team advising NextNav was led by Corporate partners Randy Segal and Gabrielle Witt, Finance partner Gordon Wilson and Tax partner Shawna Tunnell. The team also included senior associates M. Brooke Shekhar and Emma Dowell and associates Chelsea Shrader and Lina Perez.