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Navigation Specialist Receives Funding from Tecnet Equity, SpeedInvest and Techinvest

Vienna, Austria, February 20, 2013 --( 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,' 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 platform allows for the rapid creation and scalable management of indoor maps as well.

The technology of 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 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. 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 “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’ 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 team for two years, and are pleased to now have taken another step forward in the relationship. SpeedInvest has intensified its activities supporting the 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”

About 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. website: Blog and Newsletter on Twitter: on Facebook:

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.

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.

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
Bernd Gruber
Europaring F15
2345 Brunn am Gebirge
T +43 699 17 09 7823
E [email protected]

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
[email protected]

Adiam Emnay
Spengergasse 37-39
1070 Wien
T +43 699 176 76 778 [email protected]

Martin Oliva
Wohllebengasse 15
1040 Wien
[email protected] and the logo are trademarks of GmbH

Contact Information:
Marcel van der Heijden
+43 1 544 20 40
Contact via Email

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