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Kent, WA. March 4, 2008 - Naverus, Inc. confirms $10 million dollars was raised in a Series C preferred stock round to expand its business of high performance flight path development for airlines and air navigation service providers.
The funding round was led by Foundation Capital, a Bay Area venture capital firm, with participation from ongoing shareholder JGE Capital, a San Francisco private investment partnership.
Naverus is the worldwide Required Navigation Performance leader with more than 400 high performance flight paths in service representing the overwhelming majority of active RNP procedures worldwide. Uniquely combining expertise in avionics, aircraft operations and procedure design, Naverus works with airlines and air navigation service providers to find optimal solutions to their specific routes and challenges. Airlines seek Naverus RNP flight paths to save fuel, reduce carbon emissions, reduce miles flown, reduce block times and help air traffic systems to gain new efficiencies.
The company's customers include Airbus, Air China, Air New Zealand, Boeing, COPA, IATA, jetBlue, Jetstar, SkyEurope, Southwest, Qantas, Virgin Blue and WestJet and others. Naverus Inc. is a privately-held Seattle company founded in 2003.
http://www.naverus.com
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FOR FURTHER INFORMATION PLEASE CONTACT:
Amy Johnson
Email: ajohnson@naverus.com
Mobile phone: +1 (206) 779-0416
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