Indoor GPS startup Oriient: seed funding round of $4 million

innogy Innovation Hub announced:

Oriient brings indoor navigation to the masses

Creating happier and healthier ‘smart’ buildings that more effectively meet the needs of their users is central to our Smart and Connected vision. Our pursuit of this vision has led us to some incredible innovators, and we’re proud to reveal our latest investment in Oriient, pioneers of high-performance indoor GPS. Joining us in the seed funding round of $4 million was F2 Capital.

With a mission to make the physical world searchable, Oriient provides enterprise-level businesses like malls, hospitals, universities and airports with the ability to allow their customers to navigate large areas and identify items with pin-point accuracy – all with just a mobile device. And what makes it most convenient, and the first of its kind, is that it requires no additional hardware, radio frequency, or even WiFi connection to empower consumers to find their way.

“Amazon Go put the retail industry in a frenzy – big box retail is focusing on saving people the five minutes it takes to checkout, but what about the hour spent trying to find everything in the first place? We started Oriient to solve this problem and have cracked the code with technology that is both highly accurate, cost effective and easy to deploy.”

Mickey Balter, Founder and CEO of Oriient

Oriient is already working with major European retailers as they scale to unlock the power of indoor navigation by enabling in-store shoppers to have an experience similar to online search. Rather than hunting for an item in a megastore for 20 minutes, shoppers will now be able to have an easier in-store experience, which the retailers also anticipate having a positive impact on the bottom-line of their business.

“Oriient is finally solving a long-standing problem in the market providing accurate indoor positioning without the need to deploy any costly infrastructure. Applicable to many use cases across multiple industries, we are excited to support the talented team at Oriient with their vision to become a standard service offered in all major stores, factories and airports around the world.”

Jonny Saacks, Co-Founder and Managing Partner at F2 Capital


“It is with technologies like Oriient that retailers put customers front-of-mind and can provide shoppers and employees alike an easier, more convenient experience inside their store, and not only does Oriient recover money that has been left on the table through untraceable products, it also helps retailers and brands to upsell via their instant targeted promotion feature. That’s why they have been a perfect fit for our METRO Accelerator for Retail,” said Sylvia Dudek, from METRO.

And for innogy Innovation Hub, the potential goes even beyond what lies in store for retail:

“Oriient’s technology has the potential to radically enhance the consumer experience across many settings and, as their pilots highlight, is attracting significant interest from forward-thinking customer-focused businesses. We are pleased to be investing in Oriient and supporting their team as they continue to growth their customer base and enter new markets.”

Annemie Ress, Managing Director for innogy Innovation Hub

About Oriient

Oriient is a Tel-Aviv based technology company. It is a pioneer of magnetic field-based indoor positioning. Oriient’s service powers location-aware mobile apps in any indoor environment.

Focused on the retail and smart buildings verticals, Oriient helps people find products, places and other people in difficult to navigate indoor environments.

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