Redpoint Positioning Corp., a Boston, MA-based developer of a real-time location system solution, received a series A-1 funding from BHY Investment.
The amount of the deal was not disclosed.
The company plans to use the funds to expand its real-time location system technology to several industrial verticals.
Founded in 2010, Redpoint developed a real-time location system (RTLS) platform using wireless network anchors to create customized mesh-network infrastructures for its clients. The self-calibrating, self-healing infrastructure enables high-precision tracking and navigation services in complicated indoor environments as well as outdoors. Based on its patented algorithms and system architecture, Redpoint enables accurate real-time location tracking for operators to monitor safety concerns, optimize efficiency of operations and manage large quantities of assets, from the screen of a smartphone, tablet or desktop computer.