We are pleased to announce the successful closing of our Series A funding. We are excited to have BayBG, MIG Funds and an experienced group of angel investors backing us now. The deep industry expertise and focus on technology/IP driven business models makes them ideal partners for NavVis. The funding will help us to accelerate our growth and further push our technological edge in 3D mapping and indoor navigation. Our technology is aimed at a vast global market. Up to this point, very few interior spaces such as factories, offices, museums, shopping centers and airports have been made fully digital. We estimate that at least 100 billion m2 of interior spaces will be digitized in the next ten years! This corresponds to around a third of all interior spaces in the world.
Peter Pauli, Board Member at BayBG says “With their Indoor-Navigation and Mapping technology, NavVis is capturing a growing market.”
Axel Thierauf, Venture Partner at MIG AG adds: “With NavVis, we are pleased to present an exciting startup company in our portfolio. I’m certain that the global context, the quantum leap in the technology and the thrilling applications will make it possible for NavVis to unlock a market worth billions.”
Download the English press release here.
Download the German press release here.