Oriient News
5 articles
growth-positive
Oriient secures $11 million Series A funding to bring the user experience and data-driven insights of the digital world to brick and mortar buildings
Oriient, the company behind an advanced indoor positioning solution, has announced an $11 million Series A funding round, bringing the total investment in the company to $16 million. The funding will help scale implementation of Oriient, open new verticals, and drive global sales. Oriients technology supports various business use cases, including in-store navigation, proximity marketing, foot traffic analytics, and route optimization. The company has recently formed partnerships with Instacart and Google, solidifying its position in the retail stores vertical. Oriient uses proprietary algorithms that leverage Earths magnetic field, smartphone readings, and AI to accurately locate users inside buildings without the need for hardware installation. The funding will support Oriients goal of illuminating all commercial buildings with its software-only indoor location solution.
InvestmentPartners
growth-positive
Oriient Announces New Partnership with Google Cloud to Bring Cutting-Edge Micro-Location Services to Stores
Oriient, the software-only indoor location service, has partnered with Google Cloud to create a joint offering for in-store navigation and proximity marketing. Oriients technology leverages Earths magnetic field and existing smartphone sensors to pinpoint smartphones and other devices in a store with 3ft accuracy. The partnership will enable retailers to optimize the in-store journey, create contextual promotions, and communicate with shoppers in a targeted way. The integration of Oriients location services with Google Cloud will enhance the in-person shopping experience and bring value to Google Cloud customers. Oriient is a pioneer in accurate software-only indoor location services and is currently deployed across hundreds of locations worldwide.
Partners
growth-positive
Switzerland's National Rail Company SBB Selects 5 Israeli Startups for Collaboration Pilots
Swiss Federal Railways (SBB) has selected five Israeli startups for its collaborative pilot program. The selected startups are FSight, HereO, Oriient, SoftRide, and TIBA. SBB will invest up to $200,000 in testing the technologies of these startups. The pilot program aims to find solutions to technological challenges specified by SBB, such as passenger occupancy optimization and smart management of railway station parking lots. The selected companies will participate in a fully funded three-month pilot, with SBB investing up to $40,000 in each startup. The pilots will conclude in May 2020, and SBB will announce one winning startup for a more extended collaboration.
PartnersInvestment
growth-negative
LBMA/Oriient Whitepaper - Recovering Lost Revenues in Retail with IndoorGPS - Location Based Marketing Association (LBMA)
The article discusses how accurate indoor navigation using IndoorGPS can help retailers recover lost revenues. It highlights that up to 40% of shoppers fail to find at least one product they intended to buy in every shopping trip, resulting in a 3-5% loss in revenue for retailers. The use of indoor location technology, particularly geomagnetism-based navigation, is seen as a solution that is more accurate and easily scalable without requiring hardware installation. The article does not mention any specific company or date of the event.
Customers
growth-positive
Store navigation co Oriient raises $4m
Israeli indoor retail positioning company Oriient has closed a $4 million seed funding round from F2 Capital and innogy Innovation Hub. Oriient provides enterprise-level businesses, including retailers, airports, malls, and wholesalers, with a high-performance indoor GPS solution that allows customers to navigate large areas and locate items with pin-point accuracy. The technology is based on the earths magnetic field and users smartphones, eliminating the need for installation or hardware. Oriient is already working with the worlds largest retailers and aims to deliver an in-store navigation experience similar to online search. The funding will support the companys growth and scaling efforts.
CustomersInvestment
