A University spinout company that is quickly becoming a world leader in hyper-local and indoor positioning has raised £1.2 million from private equity investors to finance the next stage of its expansion.
With smartphone app developers continually finding new uses for location information, such as providing maps of airports and shopping centres, delivering advertising or helping parents to track the location of their children, mobile devices desperately need to achieve quick and accurate positioning in areas where GPS coverage is inadequate, such as indoors.
Sensewhere Ltd (formerly Satsis Ltd) is uniquely positioned to address this problem without any additional infrastructure installation or requiring the user to ‘check in’. The company launched its proprietary location-aware software for Android and Symbian devices in January 2011.
This software is based on innovative technology developed by Professor Tughrul Arslan in the School of Engineering and licensed into the company. It uses crowd sourcing and location referencing devices to provide hyper-local position detection that can pin-point the location of a user down to 1 metre accuracy. Field tests have indicated that sensewhere’s software increases position coverage by up to 99 per cent compared to current location technologies.
“We are very pleased to have raised new capital. The investment will enable sensewhere to recruit additional resources to keep up with the strong demand for our technology and expand our commercial presence worldwide.”