Find funding and partners with Spinbase – instantly25 Feb 2020
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Spinverse is delighted to make known yet another customer success story: Finnish company IndoorAtlas secured Horizon2020 SME Instrument financing to scale-up and expand the disruptive geomagnetic indoor positioning technology delivered as a scalable cloud platform.
IndoorAtlas, an Oulu-based technology SME, is the only global provider delivering an indoor location Platform-as-a-Service (PaaS). This innovative platform, which leverages proprietary geomagnetic indoor positioning technology using the digital compass present in every smartphone, enables developers to create highly scalable mobile applications that utilise indoor positioning. Since its incorporation in Finland in 2012, IndoorAtlas launched the world’s first geomagnetic field based indoor positioning PaaS and developed a business model that enabled the company to sign contracts with industry giants like Baidu and Yahoo! JAPAN.
Today more than 4 billion people live in urban environments, spending over 90% of their time indoors. Consequently, indoor positioning use cases range from public safety, indoor maps and navigation, transportation, retail and asset tracking to healthcare and emergency management.
IndoorAtlas secured a 2,2 M€ grant from Horizon 2020 SME instrument Phase 2. The key ambition of the project is to scale-up and expand IndoorAtlas’ concept into new geographical and sectoral markets, contributing to the company’s long-term vision to make every mobile app location aware – in every building in the world.
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