IndoorAtlas spins another $4.3m in funding

Aug 23, 2017 •

Yahoo Japan has led a series B round for the University of Oulu spinout, which uses geomagnetic activity to detect a object's location in a room.

IndoorAtlas, a Finland-based indoor positioning technology developer spun out from University of Oulu, closed a €3.6m ($4.3m) series B round led by internet company Yahoo Japan on Tuesday.

Family-owned investment firm Takoa Invest and venture capital firm Innovestor Ventures also participated in the round, as existing investors. Kazuhiro Ninomiya of Yahoo Japan will join the company’s board of directors in conjunction with the round.

Founded in 2012, IndoorAtlas is working on geomagnetic indoor positioning technology that uses smartphone sensors capable…

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