LONDON, May 20, 2021 /PRNewswire-PRWeb/ -- PointGrab, a maker of smart sensors that help businesses maintain social distancing in post-COVID offices, has completed a £3.4m equity raise led by specialist venture capitalist EMV Capital.
PointGrab's product is a smart workplace platform system enabling organisations to count, track the flow and locate people at individual desks, on floors or across an entire campus. It alerts users when social distancing measures are breached.
The system also features cleaning and sanitation measures to help make offices COVID secure. The platform is already used in over 40 countries, by 45 Fortune 500 Companies.
Other features include:
- Indoor navigation, 'find my colleague' and desk booking to support hybrid seating and working practices, helping colleagues return to offices safely
- Smart analytics platform that provides insights about the usage of real estate
With the return to the office now in sight, globally, employers are working on ways to help their teams return to work in safe environments that meet new COVID-secure working practices.
PointGrab's solution is well tried and tested, having been deployed in over 200 locations across 5 continents. It offers an immediate and integrated solution to the problems facing commercial real estate manager and companies in a post-COVID world. This funding will build on a solid pipeline of new deployments globally.
EMV Capital's syndicated investment will be used to address increasing requirements from PointGrab's new and existing clients to provide technological solutions to help people return to offices in a COVID-safe manner. This funding round includes investments from existing PointGrab investors, EMV Capital's parent company NetScientific PLC and new EMV Capital private investors.
Doron Shachar, PointGrab CEO, said: "PointGrab will use this investment to consolidate our position as a leader in the growing smart office market segment, and continue to service Fortune 500 and other industry leader clients. Our platform enables creative and stress-free working environments by providing real-time data and flexibility to employers, compliant with new health and safety regulations."
Shachar added: "PointGrab is expanding to help its customers adjust to this new business landscape, accelerating the return to business as usual, while reducing public health risk."
EMV Capital's CEO and Pointgrab Board member Dr. Ilian Iliev said: "As a long-term investor, we backed Pointgrab management's vision of using smart technology for a safe, productive and flexible office environment."
Iliev added: "In line with our pro-active investment strategy, we worked with the management team throughout the COVID crisis to help evolve corporate and investment strategy in response to the once-in-a-generation shifts in corporate practices unleashed by COVID. We were happy to see both existing and new investors take advantage of our syndication model, including our parent company NetScientific PLC".
PointGrab is a leading machine learning and computer vision PropTech company that provides smart sensing solutions to the building automation and facilities management industry. The company applies its superior deep-learning technology to the building automation ecosystem, where opportunities to gather data are abundant, but efficient, real-time analytics are lacking. Its investors include EMV Capital, ABB Ventures, Signify, and various family offices.
For PointGrab COVID-19 use case video, please visit https://vimeo.com/407575381
CNN Business Feature, Smart sensors could track social distancing in the office, October 23, 2020:
About EMV Capital
EMV Capital Ltd (EMVC) is a London-based award-winning investor focused on B2B companies in the healthcare, sustainability and industrials sectors. It is a subsidiary of AIM-listed NetScientific PLC. EMVC's investments in UK, US and Israel cover a range of technologies including robotics and AI, advanced engineering, power electronics and Medtech. EMVC's model is to develop customized investment strategies for its portfolio companies, combining its network of private investors, institutional VCs investors and Corporate VC funds.
EMV Capital Limited is an appointed representative of Sapphire Capital Limited, which is authorised and regulated by the Financial Conduct Authority.
For more information, please visit http://www.pointgrab.com.
Dr. Ilian Iliev, Managing Director, EMV Capital, +44 2037616138, [email protected]
Roee Peled, VP Global Sales & Business Development, PointGrab, +972544468120, [email protected]
SOURCE EMV Capital