Kontakt.io, a Krakow, Poland-based beacon manufacturer, raised $5m in second funding round.
Prague-based VC firm Credo Ventures joined previous investors Sunstone Capital.
The company intends to use the funds for further product development and global expansion. It is actively growing its personnel in existing offices in Krakow, New York, Shenzen, and Guadalajara as well as in a new one in Berlin that will focus on growth and business development.
Led by Szymon Niemczura, CEO, Kontakt.io is a Bluetooth Low Energy beacon maker. Apart from further developing its technology, the company plans to use the funds to enrich and diversify its hardware and software products releasing two new types of hardware.
It is also working on new services, including business model integrations, OEM offerings, embedded engineering, and global support for its customers.