GiPStech is an indoor positioning startup developing smartphone navigation solutions based on the geomagnetic field that do not require extra infrastructure. The company is building technology to allow precise navigation within indoor spaces and plans to commercialize the solution after finalizing it. A beta version of the product was reported to be available in a few weeks. GiPStech raised equity funding to support the move toward commercialization and had previously raised $200k in an earlier round. The company is led by CEO Gaetano D’Aquila and is based in Milan, Italy. The recent financing is intended to help transition from development to commercial deployment. GiPSTech develops indoor positioning, localization and navigation technology that uses geomagnetism and sensors available in smartphones to provide GPS-like positioning indoors. The platform was created in collaboration with Università della Calabria and leverages orientation of external navigation systems to enhance accuracy. Its technology monitors how objects move and analyzes collected data to enable new consumer and business services. Target sectors cited include commerce, transports, health, culture and manufacturing. The company is led by Gaetano D’Aquila (CEO) and Matteo Faggin and has received recognition including winning TechCrunch Italy 2013 and a grant from Working Capital Telecom Italia. GiPSTech raised funding to complete platform development and test with early adopters in different sectors.

Total raised

$1M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2015