PRESS RELEASE

Trento, 18th January 2022

Link alla versione italiana

Thinkinside has raised €1 million in funding from Add Value and Fondo Rilancio Startup of CDP Venture Capital Sgr

Thinkinside has developed a technology that transforms indoor environments into smart spaces, using data and information on the location of assets and people. Based on this data, Thinkinside delivers advanced analytics and location-based services for different industries, including retail, manufacturing and healthcare.

Funds will be used to accelerate growth, working especially on team expansion, technical developments and as a support for internationalisation.

Established in 2015 as a spin-off of U-Hopper Srl, and accelerated by H-FARM in 2017, the company relies on many partners and important customers both in Italy and abroad (US, Canada, UK, Austria, France and Australia).

Thinkinside, 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, Thinkinside (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, Thinkinside creates a digital representation of that given space and provides location-based services for different domains, including:

  • retail: Thinkinside 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, Thinkinside creates a digital twin of the production process and provides important KPIs that support operational efficiency and production monitoring and control;
  • healthcare facilities: Thinkinside 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.

This investment – says Iacopo Carreras, founder and CEO at Thinkinsidewill 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. Thinkinside aims at leading this change, developing the enabling technologies to bring this innovation into everyday life.”

According to Novica Mrdovic-Vianello, CEO at Add Value, “Thinkinside 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”.

Thinkinside 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, Thinkinside aims at becoming the reference solution provider for location intelligence services.

Thinkinside

Thinkinside (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. Thinkinside 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.

AddValue

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.

Contacts

Thinkinside: Founder and CEO, Iacopo Carreras

iacopo.carreras@thinkin.io