Raises Funding, a Vienna, Austria-based provider of indoor navigation technology, raised an undisclosed amount of funding.

The exact amount of the round was not disclosed.

Backers included tecnet equity, SpeedInvest and Techinvest.

The company intends to use the capital to expand sales efforts and increase the presence in the U.S. where it has a office in Santa Cruz.

Founded in 2010 by CEO Bernd Gruber and CTO Markus Krainz, provides a mobile SDK that enables mobile apps to get position updates indoors, locate and navigate inside buildings without requiring additional onsite hardware (e.g. extra WiFi access points, Bluetoothâ„¢ access points).



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