The funding received by Iiwari will commercialize VTT's innovative research in Ultra Wide Band technology and enable global operations.
A Finnish based indoor positioning technology company Iiwari has raised 1,5m€ seed funding in order to accelerate commercialization of its indoor positioning tech solutions. The round is led by the deep tech fund Voima Ventures and UK & US based strategic angel investors.
Iiwari’s commercial offering is based on Ultra Wide Band (UWB) technology research conducted by the team at VTT. The company has purchased the key licenses from VTT in order to operate globally and become the global category leader in indoor positioning solutions.
Iiwari’s UWB positioning technology provides higher accuracy and substantial cost efficiency than competing solutions (including WiFi and Bluetooth). Furthermore, the company has developed the technology to track unlimited number of items simultaneously giving a strong competitive edge compared to other UWB solutions available.
Read more from Voima Ventures' press release 8.6.2020.