Quuppa raises €20m from Bocap and TCG

The company will use the proceeds to scale up services and expand its footprint. It currently generates revenues of €10m and aims to reach €100m in five years.

Quuppa's CEO, Kimmo Kalliola, said in a statement that the coronavirus pandemic had increased the demand for location-based technologies in healthcare, and more broadly, as companies try to find ways of safely reopening factories, construction sites, sports stadiums and offices.

Company
Founded in 2012 and based in Helsinki, Quuppa is a B2B provider of real-time locating technology. Its system enables real-time tracking with centimetre-level accuracy. The company generates revenues of €10m and employs more than 50 people across offices in Espoo, Washington DC, Dubai, Sydney, Shanghai and Shenzhen.

People
Quuppa – Kimmo Kalliola (CEO)
Tech Consulting Group – Risto Virkkala (CEO).
Bocap – Vilma Torstila (partner).

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