IndoorAtlas Raises €3.3 Million

Oulu-based Indoor Atlas, the indoor positioning startup, announced yesterday that it had raised €3.3 million in funding from Mobility Ventures and KoppiCatch, as well as Vera Ventures, Finnvera and Tekes. Indoor Atlas is one of the hotter startups in Finland thanks to their unique technology which allows for the down-to-the-dot positioning of a phone by picking up the magnetic signals of the building or earth unique to where the phone is. Current solutions, like GPS (and assisted by WiFi), are about as accurate as you can throw your phone.

With the funding the company says they plan to soon start hitting the US market, already testing out their app with an unnamed American retailer. Indoor Atlas now has offices in Oulu, Finland, and Mountain View, California.

Read more  here 

Source: ArcticStartUp
2014-06-13 09:10
Marit Tuominen