GiPStech, a Milan, Italy-based indoor positioning and navigation startup, raised €400k in equity funding.
Backers included members of Italian Angels for Growth (IAG) and Embed Capital.
The company intends to use the funds to start commercializing the solution after finalizing it after the previous round of $200k.
Led by Gaetano D’Aquila, CEO, GiPStech develops solutions for indoor positioning/localization/navigation based on geomagnetic field. The company is developing technology that allows smartphones to precisely navigate indoor spaces with no infrastructure needed.
The beta version will be available in a few weeks.