Oriient Secures $4M to Finally Bring in-Store Navigation to the Masses
Summary
Oriient provides enterprise level businesses including retailers, airports, malls and wholesalers, with the ability to allow their customers to navigate large areas and locate items with pin-point accuracy. Jonny Saacks, Co-Founder and Managing Partner at F2 Capital added: “Oriient is finally solving a long-standing problem in the market providing accurate indoor positioning without the need to deploy any costly infrastructure. Applicable to many use cases across multiple industries, we are excited to support the talented team at Oriient with their vision to become a standard service offered in all major stores, factories and airports around the world”. “Oriient’s technology has the potential to radically enhance the consumer experience across many settings and, as their pilots highlight, is attracting significant interest from forward-thinking customer-focused businesses,” said Annemie Ress, Managing Director for innogy Innovation Hub. The innogy Innovation Hub has created a €162m portfolio (as of December 2018) through investing in disruptive individuals, start-ups and early stage businesses, and has provided opportunities for nearly 90 start-up and scale-up companies to collaborate.