Polte, a Dallas, TX-based location-as-a-Service provider, raised $12.5M in Series A-2 funding.
The backers were not disclosed.
The company intends to use the funds to focus on deployments of commercial and industrial applications of its patented alternative to GPS.
Led by Ed Chao, chief executive officer, Polte leverages available 4G and 5G networks worldwide to provide a location platform that enables manufacturers, distributors, and sellers of goods to track and manage their millions of distributed assets. With over 75 patents and patents pending, the company delivers an accurate solution that requires minimal power consumption. Polte’s technology is optimized to leverage 4G and 5G cellular signals, functioning both indoors and outdoors for precise and secure asset tracking. Use cases range across supply chain, logistics, transportation, manufacturing, energy, automotive, and sharing economy sectors where assets are in motion and/or widely dispersed.