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Malmo, Sweden | Published on: February 17, 2012
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Qubulus Closes Funding Round and Appoints Founder Frank Schuil as CEO http://pr.co/p/000obs
Summary
Indoor Positioning company Qubulus closes a round of funding lead by angel investor Jean Pierre Payat followed by Swedish government backed investment fund Innovationsbron and existing shareholders including IT consultancy company Jayway, retail re-development company Reteam and the management. Frank Schuil, founder of Qubulus, is appointed as CEO and new investor Jean Pierre Payat joins the board.
Details
About the investment

With this latest investment Qubulus will accelerate its market penetration, CEO and founder Frank Schuil elaborates:"We have built the foundation of our technology and platform, successfully tested the market and are now ready to move into the next phase to become the world's dominating Indoor Positioning company. The market opportunity for Indoor Positioning has been validated and companies start to realize its vast potential."

Jean Pierry Payat, angel investor with a long history in the retail and security industry explains Qubulus' potential for the market:"The Qubulus indoor positioning platform with its unique accuracy brings a new tool for efficient management of indoor security problems such as control of people movement in crowded areas." On retail Payat elaborates:"The retail manager will be able to support the shopper on shelves and rack level, aiming for even better personalized services."
Quotes
The market opportunity for Indoor Positioning has been validated and companies start to realize its vast potential

— Frank Schuil, Founder and CEO
The retail manager will be able to support the shopper on shelves and rack level, aiming for even better personalized services

— Jean Pierre Payat
The Qubulus indoor positioning platform with its unique accuracy brings a new tool for efficient management of indoor security problems such as control of people movement in crowded areas

— Jean Pierre Payat