Y Soft Ventures announced today that it has provided a first round venture funding to Sewio Networks, a Czech Republic-based young company focused on providing precise indoor positioning applying a unique radio technology.
Sewio’s unique radio technology outperforms current indoor positioning systems based on Wi-Fi or iBeacon and can fully substitute current GPS systems in areas where existing precision or coverage is not sufficient. Moreover, the precise sub-meter indoor tracking offered by Sewio’s products open new application areas and markets which were not possible before.
In addition to providing one million (US dollars) in funding, Y Soft Ventures, as the venture capital arm of Y Soft Corporation, is able to provide Sewio resources to speed up their time to success including manufacturing, global distribution and logistics, marketing and HR. These resources are often lacking in such promising early-stage companies.
Sewio Networks, with its focus on hardware and software development, its wide-range applicability and dedicated management team, has demonstrated that they are well-suited to operate on a global scale.
Y Soft and Sewio began their success very similar way, thanks to cooperation with the South Moravian Innovation Centre (JIC). "We decided to kick off the business in the startup program JIC MASTER, where we have gained a lot of advice and contacts," says Milan Šimek from Sewio. Y Soft, main partner of accelerator JIC STARCUBE looks for similar projects combining hardware and software for possible investment.
For more information read the press release here.
Sewio Networks www.sewio.net
Sewio solutions use precise location data and wireless sensors to help find, protect, optimize or control the things that matter the most – people, equipment and assets. Using ultra-wide band radio technology, real-time location and modern web based technologies for monitoring and control, Sewio’s solutions are used to protect the safety of employees and machinery, find efficiencies in production and warehousing, and improve processes. Sewio products are used in a wide range of industries including automotive, warehousing and logistics, entertainment, retail, mining and healthcare.
JIC (South Moravian Innovation Centre) www.jic.cz
Empowering people to create businesses that change the world. JIC aims to promote enterprise skills development and commercialisation of research in South Moravian Region. JIC brings together all higher education institutions in the region in a powerful partnership that aims to maximise the contribution of higher education to regional and national economies.
Read other press releases!
Press release / 2. 6. 2015
Join Czech accelerator JIC STARCUBE and enjoy up to € 4,100 worth of benefits
Press release / 4. 4. 2014
CEITEC is a prime example of the synergism of EU regional and research policies
Press release / 6. 12. 2013
INVEA-TECH announced strategic cooperation with Check Point Software Technologies
Press release / 18. 11. 2013
Apply for StarCube accelerator 2014. Registration open till January 12