GiPStech raises 200k€ in first round of angel funding! GiPSTech, an Italian developer of solutions for indoor positioning/localization/navigation based on geomagnetic field, raised €200k in angel funding.
GiPStech has developed a proprietary indoor localization technological solution consisting of a smart integration of geomagnetic and inertial algorithms that is able to reach extraordinary precision (on average 1m / 3ft) employing as guiding signal the anomalies to the geomagnetic field “naturally” present in any indoor setting: a signal that is free, stable and reliable.
A group of members of Italian Angels for Growth (IAG) including Massimo Vanzi made the investment.
The company intends to use the funds to complete the development of the platform and test it with early adopters in different sectors.