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Pozyx has just announced a new investment in its Ultrawideband (UWB) positioning solutions. The Ghent-based IoT startup has received 2.5 million euros from the KBC Focus Fund, together with repeat investor Saffelberg Investments. The infusion of cash will boost Pozyx’s international growth as it’s earmarked to help expand its partner network and strengthen its product portfolio for smart manufacturing and smart warehousing with decimeter accuracy.
Pozyx started hardware and software development using Ultrawideband technology (UWB) in 2015 as a spinoff from Ghent University. Since then, UWB has seen rapid adoption as a highly accurate and cost-effective real-time locating system for industrial applications. With over 4,000 customers in 80 countries, the Ghent-based startup’s solutions are used by some of the largest and innovative companies in the world including Airbus, Arcelor Mittal, Honda and MIT.
“At KBC, we invest in exceptional companies active in the IoT domain based in Belgium and surrounding countries. Pozyx is a great example of how a startup with deep domain expertise and technological know-how can become a market reference in just a few years,” says KBC investment director Nuno Carvalho. “The team’s innovative approach to use commercially available UWB technology for real-time location systems has resonated with companies small and large around the world. Pozyx’s impressive customer base confirms the strength of their value proposition: improve the bottom line by optimizing business processes, and the top line by creating new business models based on location accuracy and data insights.”
