Ifinity, a Warsaw-based company delivering complex implementations based on microlocation technology, signed an investment deal with SpeedUp Venture Capital Group today. SpeedUp will carry out a seed capital investment in several tranches. Valuation of the company after the final payment will reach 12 million $ with no more than 32% of shares changing hands in the process.
The investment deal will be carried out in tranches throughout the coming months. Ifinity will invest the funds in further development, delivering subsequent implementations and R&D for solutions dedicated to business and smart cities, in which the company recognizes future potential.
At Ifinity we want to deliver complex implementations based on microlocation. We believe that our products change the way we deal with surrounding reality – says Adam Jesionkiewicz, Ifinity’s CEO and founder – We have this idea of smart cities that can help everyone live smarter with the help of our technologies and we’ve already put that idea into work. Today with the City of Warsaw we’re already helping visually impaired people to navigate around local government premises. Thanks to the secured funding we want to significantly increase the scale of our operations and strengthen Ifinity’s position in the global market.
Ifinity – experts in smart implementations
Ifinity specializes in complex implementations based on beacon technology from requirement assessment, through installation and programming of the beacons to development of SDK and dedicated software applications. The company focuses on delivering B2B2C solutions (Business to Business to Consumer) in six main areas of business: cities and public administrations, parking spaces, education, healthcare, galleries and museums together with commercial spaces.
The services offered by Ifinity are based on beacon technology functionalities: microlocation, wayfinding and context & location awareness. The possibility to integrate existing IT systems of a given facility with the newly implemented beacon based systems is a unique element of Ifinity’s offer. It allows Ifinity to deliver such services as remote access to services for applicants/customers, POS micropayments, real-time equipment registry at any given facility, parking space management and advanced data analytics.
Implementation of Ifinity services for the City of Warsaw
The Capital City of Warsaw is one of Ifinity’s key clients. Within the Virtual Warsaw project the City commissioned a pilot implementation for microlocation and navigation systems in the Center for the Disabled. A system integrated with existing services available within the location was adapted to the requirements of visually impaired. It is the first such implementation in the world. Currently the company is in the process of deploying another innovative city project – the world’s first beacon based system in public transportation.
Ifinity emerged in Central Europe as company made by Adam Jesionkiewicz and Michał Polak two passionate entrepreneurs from Warsaw, the heart of Poland. Company provides beacons based tailor-made complex implementations to cities, public spaces and commercial clients around the world to let people digitally interact with them.
SpeedUp Venture Capital Group, is the leading Polish group of investment funds, which provide funding for new businesses at different stages of development. Along with LMS Investment the group includes three other funds: SpeedUp Investments, SpeedUp IQbator and SpeedUp Innovation.