Intellitix installs RFID readers, closed-loop wireless networks, payment terminals and offers order-fulfillment to deliver wristbands to attendees before events. The wristbands handle gate access and cashless purchases, which the company says speeds entry and increases on-site spending. Its business model includes profit sharing tied to onsite sales. The company is UK-based and was founded in 2010; founder Serge Grimaux is French-born and based in the Czech Republic, having previously built Ticketpro. Intellitix was profitable in its first year but now plans to spend more than it earns to expand into new markets. The article notes mobile ticketing apps and future NFC-equipped smartphones as potential long-term alternatives to wristbands.

Total raised

$3M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2011