Mobility Ventures Invests in Indoor Atlas’ €500,000 Seed Round
Mobility Ventures Invests in Disruptive New Indoor Location & Positioning Technology Using Earth’s Magnetic Fields Offering Centimeter Accuracy
Mobility Ventures, a leading global venture capital firm in wireless, today announced an investment in a new disruptive indoor positioning and mapping technology company called Indoor Atlas Ltd. which is the world’s first company to utilize magnetic anomalies inside buildings and smartphones to accurately pinpoint positions indoors. The Finland-based start-up was founded in 2012 as a spin-off from the University of Oulu, Finland.
“Indoor positioning is the next frontier for location based services, offering a plethora of diverse applications and the ability of providing rich contextual information about people and objects that can prove to be very valuable when combined with “big data” kinds of analytics presenting enticing advertising and branding possibilities which could revolutionize retail marketing” said Roman Kikta, Managing Partner, Mobility Ventures. “Our investment in Indoor Atlas represents our strategic commitment to identifying and investing in disruptive innovations which empower today’s digital lifestyles.”
“With the rapidly growing location-based services market, more and more companies are interested in integrating indoor positioning and navigation capabilities into their products”, states David Sym-Smith, Partner, Mobility Ventures. “Apart from by improving the ability to analyze customer behavior and influence it with quick calls to action to increase sales, universities could allow students to chart classrooms, hospitals could streamline the movement of patients, and organizations & governments can track movement of people for convenience and safety purposes”.
Indoor Atlas’ Founder & CEO Dr. Janne Haverinen, Ph.D. states: “Moving consumers from point A to point B can be a challenge in itself as GPS requires satellite line of sight and doesn’t work indoors. Indoor Atlas employs the smartphone’s built-in magnetic field sensor and magnetic signatures are collected inside buildings. These signatures display unique patterns which Indoor Atlas analyzes resulting in an indoor navigation positioning and navigation solution that radically improves navigation capabilities in environments where GPS and Wi-Fi systems are unavailable”.
“In the area of indoor navigation, Indoor Atlas has developed a sustainable competitive technical advantage based on unique technology. Leveraging from this, Indoor Atlas is in a strong position to establish a leadership position in the emerging market of mobile indoor positioning and navigation”, states Lothar Pauly, Managing Partner-Europe, Mobility Ventures.
For more information visit: www.indooratlas.com