Austrian startup indoo.rs secures a “6-figure” investment
Ever been stranded at an airport, desperately looking for your favourite restaurant, coffee shop, or why not a pharmacy? If so, you probably did not experience the disorientation that came with pacing one long corridor after another. With indoo.rs, however, inside locations seem to have a bit more of an overview. The mobile application and software development kit (SDK) allowing users to determine their location and navigate within indoor spaces was developed by Austrians Bernd Gruber and Markus Krainz, co-founders of customLBS GmbH (read more about them in our profile).
As we already hinted at the end of January, the company was poised to share investment news. This week, on February 20, this news has officially been announced: indoo.rs has secured a “six-figure” investment in a seed round from Austrian SpeedInvest, Tecnet Equity, and “strategic investor” Techinvest. While they are hesitant about sharing the details, we are thrilled to hear that an Austrian startup has found local capital to grow its business.
SpeedInvest had already been supporting the indoo.rs team for two years and also helped them set up networks in Silicon Valley. “We are pleased to now have taken another step forward in the relationship,” said Werner Zahnt, partner at SpeedInvest.
indoo.rs are soon to return to the Bay Area for meetings with M&A firms, app developers, semiconductor companies, and OS vendors to increase their presence in the US market but do not plan to incorporate there, as they told inventures.eu. The new infusion of private investment will get them through the next critical 18 months. But to indoo.rs it’s more than just money: “The investors bring us business expertise, customer development leads, and diverse contacts that help us a lot.”