The growth capital investment has been made using funds from the Baronsmead Venture Trusts. Existing investors also participated in the round which is expected to raise up to £5M at final closing.
Pointr’s Deep Location® platform seamlessly blends edge computing, internet of things, artificial intelligence and augmented reality technologies to provide pinpoint navigation, tracking and orientation services inside large venues, allowing airports, retailers and enterprises to better understand how travellers, customers and employees interact with their surroundings while also helping these audiences to navigate inside buildings.
In London, Pointr has already been installed at King’s Cross Station, Harrods and Gatwick Airport, where an app can be downloaded and offers directions to the relevant platform, gate or product.
Pointr also works with the world’s busiest airport, Dubai International Airport, and in partnership with Arup, recently secured a multi-phase contract with the US Department of Homeland Security to develop its offerings for US airports.
The business was founded by three co-founders, Ege Akpinar, Axel Katalan and Can Akpinar, and currently employs over 25 team members, serving clients across 14 geographies worldwide. Silicon Valley veteran and serial entrepreneur Osman Kent also joined the company as a non-executive chairman.
The investment will be used to bolster the team, further develop the offering and fund Pointr’s continued international expansion, with new office openings planned across the globe.
Livingbridge Growth invests equity of up to £5m and supports founders with bold ambitions for the future, investing in exceptional entrepreneurs and providing transformational capital and expertise to accelerate business potential.
Charlie Ross at Livingbridge said:
“Pointr’s technology could transform the customer experience, offering true indoor location accuracy and using data to understand how people interact with their surroundings, be that in an airport, on the high street or at their place of work. We have been immensely impressed with Ege and the team and are very excited to be working with them as they embark upon the next exciting stage of their journey.”
Ege Akpinar CEO and co-Founder at Pointr said:
“We are excited to have Livingbridge as a long-term partner in our growth journey. Because of our high profile marquee customers around the world, we get many investment inquiries. We believe with Livingbridge we have found an insightful and strategic partner who can help us scale Pointr to the next level.”