Minodes GmbH, a Berlin, Germany-based retail analytics provider, received a minority investment of undisclosed amount.
Market Tech (LSE: MKT), the holding company that combines London real estate assets with digital capabilities, acquires a 25% stake in Minodes.
The company intends to use the funds to accelerate its expansion, especially in the UK and in North America.
Led by CEO and Founder Tim Wegner, Minodes analyzes a combination of in-store data sources, such as Wi-Fi and Bluetooth beacons, providing detailed insights into visitors experience and behaviour – with the aim of converting them into paying customers – for more than 50 retailers operating across 12 countries over an area of approximately 10 million square feet.
Current clients include some of Europe’s largest shopping mall operators, global automotive OEMs, as well as leading supermarket chains in Europe and the Middle East.