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IndoorAtlas closes series B investment round – Strategic investment from Yahoo! Japan

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OULU, Finland – August 22, 2017- IndoorAtlas, the global leader in indoor positioning technology, today announces that its funding round has been successfully closed with a total of about 3,6 M€ equity funding. 

The lead investor in the Series B was Yahoo! Japan, with existing shareholders Takoa Invest and Innovestor Ventures also co-investing. The new shareholder Yahoo! Japan is a long time partner and customer of IndoorAtlas. 

“IndoorAtlas is very happy to announce the closing of this investment round.  The support of the investors enables us to advance and further commercialize our disruptive sensor fusion positioning technology. We are very excited about the new deeper relationship with Yahoo! Japan. We both share the vision to make indoor worlds more discoverable in everyday life.”, said Erik Piehl, CEO of IndoorAtlas.

“We are very pleased to partner with IndoorAtlas. Their highly innovative indoor positioning platform enables us to deliver brand new experiences by building completely new services for our vast customer base.”, says Mr. Ninomiya, who will be joining the IndoorAtlas board.

IndoorAtlas new board of directors consist of Chairman Jari Sonninen (Takoa Invest), Dongmin Li (Baidu), Harry Santamäki (Koppicatch), Kazuhiro Ninomiya (Yahoo! Japan) and Janne Haverinen (Founder of IndoorAtlas).


About IndoorAtlas
Founded in 2012, IndoorAtlas is a global Platform-as-a-Service leader in geomagnetic indoor positioning. Its patented hybrid technology utilizes the built-in sensors in smartphones to detect anomalies in the Earth’s magnetic field to pinpoint a location indoors. It provides to thousands of developers with a scalable cloud platform to build location-based services without the need to purchase, install and maintain large amounts of costly infrastructures. The platform supports both Android and iOS, and customers can utilize the provided geoinformation to build indoor location-based services, such as proximity advertising, search and way-finding, within their application. For more information, please visit www.indooratlas.comhttps://www.youtube.com/watch?v=pYnY1_UwA4s

About Yahoo! Japan
Yahoo Japan Corporation was founded in 1996 and operates Yahoo! JAPAN, one of the largest portal sites in Japan. Offering more than 100 services including search, news and e-commerce via PC and smart devices, Yahoo! JAPAN serves more than 90 million daily unique browsers, and 70 billion monthly page views on average. The total number of downloads for iOS and Android applications released by Yahoo Japan Corporation exceeds 480 million. For more information, please visit http://ir.yahoo.co.jp/en/

About Takoa Invest
Takoa Invest is a Finnish family-owned investment company investing in companies and in real estate in Finland and abroad. For more information, please visit http://takoa.fi/

About Innovestor Ventures
Innovestor Ventures manages the largest portfolio of venture backed companies in Finland. The highly diversified portfolio consists of almost one hundred companies in all fields of technology; cleantech, consumer, enterprise software, health, industrial technologies and life science. For more information please visit http://innovestorgroup.com/fi/

Contacts

Indooratlas Oy

Erik Piehl
CEO
firstname.lastname@indooratlas.com

Mikonkatu 13, 00100 Helsinki, Finland
Elektroniikkatie 8, Oulu, Finland
2345 Yale Street, 1st Floor, Palo Alto CA-94306, U.S.A.

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