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Navigation specialist indoo.rs receives funding from tecnet equity, SpeedInvest and Techinvest

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Wednesday, February 20th 2013
| Vienna, Austria


indoo.rs, a technology leader in the rapidly growing field of indoor localization and navigation, received a

significant 6 figure equity investment in a seed round by Austrian funds tecnet
equity and SpeedInvest joined by strategic investor Techinvest.
Indoor positioning and mapping is expected to be the next big innovation shaping the
mapping and localization industry and one of the ‘Top 15 Emerging Technologies To
Watch’ according to Forrester Research (1). Existing "outdoor" solutions, such as
from Google, Nokia, and Microsoft, are ubiquitous on today’s mobile devices and
critical for the success of any mobile platform. However, people spend 90% of their
time indoors, where existing solutions that rely on GPS rarely function.
 
To determine a user’s indoors location, indoo.rs‘ mobile technology combines
available signals from the device sensors (including accelerometer, gyroscope,
barometer, and compass) with ambient electromagnetic signals such as Wi-Fi,
geomagnetic fields and Bluetooth. The indoo.rs platform allows for the rapid creation
and scalable management of indoor maps as well.
 
The technology of indoo.rs is used today by customers and partners to deliver on
B2B and B2C use cases, in venues such as airports, shopping malls and convention
centers, and in segments ranging from retail to public safety.
 
The indoo.rs platform and SDK enable application developers to incorporate indoor
positioning and navigation capabilities into their applications and deliver end-to-end
solutions to their customers. indoo.rs also allows device and chip manufacturers to
run computationally intensive and sensor fusion code natively in their platforms for
increased speed, higher accuracy and optimal battery power efficiency.
 
“Our technological lead has been confirmed repeatedly by leading industry experts.
The feedback we obtain in discussions with hardware manufacturers and indoor
mapping providers during a roadshow facilitated by SpeedInvest in the US validates
our approach." says Bernd Gruber, co-founder and CEO of indoo.rs. “This investment
round combines the financial strength of the tecnet fund, the active involvement of
SpeedInvest and strategic opportunities offered by TechInvest to support the
expansion of indoo.rs’ technology lead.”
 
Investors providing capital and know-how
“This technological lead was a crucial factor in the investment decision”, said Werner
Zahnt, Partner at SpeedInvest. "We have been following and assisting the indoo.rs
team for two years, and are pleased to now have taken another step forward in the
relationship. SpeedInvest has intensified its activities supporting the indoo.rs team
and is increasing their presence in the US market. “
 
(1) Forrester Research Blog “Forrester's Top 15 Emerging Technologies To Watch: Now To 2018”
http://blogs.forrester.com/brian_hopkins/13-02-07-forresters_top_15_emerging_technologies_to_watch_now_to_2018
 
About Indoo.rs
indoo.rs was founded in 2010 by Markus Krainz and Bernd Gruber to develop and
sell best-of-breed technology and solutions for indoor positioning and navigation
which scale and can be used by anyone, anywhere and on any device.
  • indoo.rs website: www.indoo.rs
  • indoo.rs Blog and Newsletter www.indoo.rs/category/blog/
  • indoo.rs on Twitter: www.twitter.com/indoo_rs
  • indoo.rs on Facebook: www.facebook.com/indoo.rs

About tecnet equity

tecnet equity is the technology financing company of the province of Lower Austria. It
finances high-tech and innovative companies. tecnet's field of responsibility also
includes supporting patent and technology exploitation. The declared objective of
tecnet equity is to promote Lower Austria as a high-tech location for inventors and
business owners.
www.tecnet.co.at
 
About SpeedInvest
SpeedInvest is an Austrian business angel fund that invests in the web and mobile
area and a focus on Central Europe. Besides financial investments, SpeedInvest
actively deploys it network and know-how to support its portfolio companies.
SpeedInvest’s office in Silicon Valley support portfolio companies entering the US
market.
www.speedinvest.com
 
About TechInvest
TechInvest is an Austrian technology financing company which is owned by Hannes
Bardach CEO of FREQUENTIS AG. TechInvest intends to invest in companies from
the FREQUENTIS startup center when technology fits to the scope of FREQUENTIS
business.
 
For more information please contact:
 
indoo.rs
Bernd Gruber
CEO
indoo.rs GmbH
Europaring F15
2345 Brunn am Gebirge
T +43 699 17 09 7823
E bernd@indoo.rs
www.indoo.rs
 
tecnet equity NÖ Technologiebeteiligungs-Invest GmbH
Thomas Ecker
Senior Investment Manager
Wirtschaftszentrum Niederösterreich, Haus B
Niederösterreichring 2
3100 St. Pölten
T +43 2742 9000 - 19302
ecker@tecnet.co.at
www.tecnet.co.at
 
Speedinvest
Adiam Emnay
Spengergasse 37-39
1070 Wien
T +43 699 176 76 778 adiam.emnay@speedinvest.com
www.speedinvest.com
 
TechInvest
Martin Oliva
Wohllebengasse 15
1040 Wien
martin.oliva@frequentis.com
indoo.rs and the indoo.rs logo are trademarks of indoo.rs GmbH
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