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 Thinkinside – 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. 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.