Estimote raises $3.1m

Bessemer Venture Partners, Birchmere Ventures, green venture capital fund Innovation Endeavours, hedge fund Valiant Capital Partners and technology company Betaworks all invested in the company.

Estimote has developed Beacon, a small, wireless Bluetooth sensor that broadcasts radio signals to smart devices. The business's primary focus is currently retail stores, with the aim of implementing Beacons in bricks-and-mortar stores to improve and personalise a customer's shopping experience.

If a customer has a shop's application installed on their smartphone, a Beacon attached to a store can send the customer personalised messages regarding offers and products. Customers can also pay for products via the Beacon and their smartphone.

The Beacon contains a low-power Bluetooth chip that transmits signals once installed, to communicate with smart devices within a 200ft range.

Estimote is currently piloting Beacon in Europe and the US. According to TechCrunch, US department store Macy's is currently experimenting with Estimote's Beacon technology, while Apple is planning on installing the sensors in more than 250 of its retail stores.

Estimote currently has bases in Krakow, Poland, and San Francisco in the US, and is planning on opening a New York office following the appointment of GroupMe business development head Steve Cheney as senior vice president of business operations, who will head up the new office.

The company employs around 50 staff and was established in 2012. Estimote was founded by CEO Jakub Krzych and CTO Łukasz Kostka.

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• Topics
• CEE
• Technology
• Early-stage
• Poland
• Bessemer Venture Partners