ThinkIN has raised €1 million in funding from Add Value and Fondo Rilancio Startup of CDP Venture Capital Sgr
ThinkIN has developed a technology that transforms indoor environments into smart spaces, using data and information on the location of assets and people.
Funds will be used to accelerate growth, working especially on team expansion, technical developments and as a support for internationalisation. Learn more about the investment.
- ThinkIN raises a funding worth € 1 million from Add Value and Fondo Rilancio Startup of CDP Venture Capital Sgr
- Funds will accelerate growth focusing on team expansion, technical development and internationalisation
- ThinkIN is strong of its customer and partner network and of a promising market outlook
Who We are
ThinkIN, a company specialised in value-added services enabled from indoor location data, raises a funding worth € 1 million. The investors are Add Value, a company investing in small and medium enterprises in the growth phase, and Fondo Rilancio Startup of CDP Venture Capital Sgr.
Since its establishment in 2015, ThinkIN (www.thinkin.io) has specialised in bridging the gap between physical and digital environments, using indoor positioning data of assets and people. By knowing where assets and people are located indoors, ThinkIN creates a digital representation of that given space and provides location-based services for different domains, including:
- retail: ThinkIN allows Italian and international retail chains to digitise their brick and mortar stores by providing knowledge on in-store customer behaviour, starting from the tracking of shopping carts and baskets. These data are the key support for the optimisation of their strategic and operational activities;
- manufacturing plants: by locating job orders, working tools, forklifts and any other relevant asset, ThinkIN creates a digital twin of the production process and provides important KPIs that support operational efficiency and production monitoring and control;
healthcare facilities: ThinkIN provides a real-time view of the location of key medical assets (e.g. beds, wheelchairs, biometric monitors), in order to digitise and automatise internal procedures, with relevant benefits for the efficiency and optimal resource management of the healthcare facility.
Statements after the investment
“This investment will allow us to accelerate technical developments to enrich our product offer, especially for some of our products targeted to specific domains (for example, Industry 4.0) and, most of all, further develop our sales and internationalisation strategies. Knowing where we are located inside a physical space is becoming more and more a commodity and this, similarly to what happened with the GPS, will drastically change how we experience indoor spaces. ThinkIN aims at leading this change, developing the enabling technologies to bring this innovation into everyday life.”
- Iacopo Carreras, founder and CEO at ThinkIN
“ThinkIN is an Italian jewel, a company that has managed in a short time to achieve important design-win with a high barrier to entry for competitors and to create a profitable turnover even during the lock-down period."
- Novica Mrdovic-Vianello, CEO at Add Value
Market outlook
ThinkIN relies on partners and clients both in Italy and abroad (US, Canada, UK, Austria, France and Australia) and expects to further expand its customer base and partner network in the following years, given the increasing interest towards location intelligence services and indoor location.
The market size of Location-Based Services (LBS) and of the underlying hardware RTLS technology (Real-Time Location Systems) is indeed expected to grow up to 48.5 billion USD in 2026.
Given the promising market outlook and the growing interest of clients, partners, prospects and stakeholders, ThinkIN aims at becoming the reference solution provider for location intelligence services.
ThinkIN
ThinkIN (www.thinkin.io) is a company founded in 2015 as a spin-off of U-Hopper Srl (www.u-hopper.com). The company has its origins in the research world in Trentino (Fondazione Bruno Kessler) and is specialised in the delivery of value-added services starting from indoor positioning data. ThinkIN builds services and applications for different domains such as retail, manufacturing, trade fairs and hospitals. The goal is to digitise indoor spaces by providing knowledge on what is happening indoors, through advanced analytics and KPIs, together with real-time location-based services.
Add Value
Add Value is a company of AVM Group, focused on investments in Private Equity, Venture Capital and Real Estate through Club Deal and Pledge Fund. Add Value Srl invests in small and medium enterprises in the growth phase, build-up or buy-out, with a turnover between 1 million and 50 million euros, mainly Italian, with a business model suitable for international scale-up or aggregations.
CDP Venture Capital Sgr
CDP Venture Capital Sgr is 70% owned by CDP Equity and 30% by Invitalia, with over € 1 billion of resources under management. It aims to make Venture Capital a strategic pillar to Italy’s economic growth and innovation, creating the conditions for a comprehensive and sustainable growth of the Italian Venture Capital ecosystem. It operates with a series of funds to support startups in all their life stages, through both direct and indirect investments.
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ThinkIN attends EuroShop 2023 and showcases its in-store location intelligence solution with a live demo. Discover all the details to come and visit us!