Oriient Raises $11 Million in Series A Funding

Oriient, A Tel Aviv, Israel$11m raised by a company based in the United States that provides an advanced indoor positioning system in Series A funding.

TheOurCrowd led the round that brought total funding raised to date at $16m. Regal Four (a BerenF2 (family venture entity) Venture Capital, NGN Partners, Future Energy Ventures.

TheThe company plans to use the funds for scaling implementation to tens or thousands of locations, opening new verticals, and driving global sales.

LedBy Mickey Balter, CEO, OriientIt provides an advanced indoor positioning system for physical spaces. It supports a wide variety of business use cases such as global retailers, delivery services and smart buildings. This solution can deliver incremental revenue through indoor mapping and proximity marketing, cost-reduction, security enhancements, and improved efficiency of physical environments.

Founded in2017 saw the company’s 35 employees perfect its proprietary algorithms. Earth’s magnetic field, smartphone readings and AI to accurately pinpoint any user inside a building, without the need to install any hardware. Oriient’s patented technology integrates directly with a business’s mobile app, harnessing existing sensors inEvery smartphone will deliver hyper-accurate positioning up to 3 feet/1 Meter without the need for hardware installation.

TheCompany recently announced two new partnerships with grocery delivery giant InstacartTo power inShoppers use a variety of store navigation systems to navigate between stores. in North America2) GoogleIt is the basis of OriientIndoor location services are available Google Cloud’s Marketplace as an SDK for retailers’ mobile apps.

FinSMEs

10/05/2022

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