The startup indoo.rs based in Brunn am Gebirge (Lower Austria) is being sold to the US tech giant Esri for an undisclosed amount. Speedinvest and Tecnet participated in the startup.
In the creation of maps the software ArcGIS of the US tech group Esri is indispensable. Just over one billion US dollars, the annual turnover last. Now the group is strengthening itself with a DeepTech solution from Austria.
As announced today, Esri took over the indoor navigation startup indoo.rs based in Brunn am Gebirge (Lower Austria). An amount was not mentioned. In addition to the founders Bernd Gruber and Markus Krainz, Speedinvest (first fund) and Lower Tecnet VC Tecnet also participated in the company which was founded in 2010 and invested in several rounds.
“Indoo.rs is a leading provider of Indoor Positioning System (IPS) software and services and works with organizations around the world, including international hub airports, major train stations and corporate headquarters. I am delighted to welcome her to the Esri family, “said Brian Cross, Director of Professional Services at Esri, in a press release. “Their IPS technology, experience and leadership will be of tremendous benefit to our customers who want to use GIS indoors.”
Merging of the products
The software of the domestic startup and INiTS alumnus will in future be part of ArcGIS Indoors by Esri. The Group’s new product will enable interactive indoor mapping of buildings such as corporate facilities, retail and business locations, airports, hospitals, venues and universities. The acquisition also gives users of Esri’s ArcGIS platform the native ability to use IPS location services to support in-room mapping and analysis. Existing indoo.rs customers now have access to ArcGIS, adding the most powerful GIS software for their indoor mapping applications.
Company headquarters becomes a research and development center
The indoo.rs headquarters in Austria is to become a research and development center for Esri. “We can now offer our services at the highest professional level,” says Bernd Gruber, co-founder of indoo.rs. “It also promotes new and future developments and secures our leading approach”.
Ninth exit from Speedinvest 1
Naturally, the exits also make us happy with the previous investors. Speedinvest can now book the 9th exit from the first fund, which was invested in just 20 startups. “Indoo.rs is one of the startups that confirms the thesis that Austrian talents can prevail, especially in the field of B2B high technology.
The acquisition by Esri was now the logical next step and we congratulate the team, “says Werner Zahnt, Partner at Speedinvest. “I am pleased that as a deeptech investor, we from tecnet had the opportunity to accompany the two founders of indoo.rs at a very early stage of the company and to support the constantly growing team in their development,” says tecnet Managing Director Doris Agneter.
Also published on Medium.