Bay Area start-up Xona Space Systems said it has secured $92 million in newly disclosed funding, including a Series B round led by Craft Ventures. The cash will finance the launch of Pulsar-0, the company’s first low-Earth-orbit satellite designed to provide an encrypted navigation and timing service intended as a more resilient alternative to today’s aging GPS constellation. Separately, SoftBank Group announced it has invested about ¥2.2 billion (roughly $14 million) in U.S. balloon developer Skai and plans to begin pre-commercial deployment of high-altitude platform stations in Japan in 2026. The helium-filled airships, which cruise some 20 kilometers above Earth, will act as “flying base stations” to extend mobile coverage to remote areas and maintain connectivity during natural disasters.