Situm, a Santiago de Compostela, Spain-based provider of indoor positioning and navigation technology platform, closed a funding round of undisclosed amount.
Amadeus Venture, the corporate venture arm of Amadeus IT group, made the investment, along with Unirisco and Xesgalicia.
The company will use the funds to continue to expand its development efforts and operations.
Led by Víctor Alvarez, CEO and founder, Situm provides indoor positioning and navigation technology for airports and train/bus stations’ users. Its zero infraestructure, fast configuration smartphone indoor positioning service enables users to view real-user’s movements, allocate resources to smooth passenger flow, improve security services, and offer analytics to improve geo-marketing and targeting.