Qubulus Closes Funding Round and Appoints Founder Frank Schuil as CEO

17 FEBRUARY 2012, MALMO, SWEDEN
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.
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
Images
Spokespeople
About Qubulus

Qubulus provides a positioning platform for smartphones where GPS does not work. Its patented solution is world leading in accuracy, cost-efficiency and versatility. Application areas include navigation, location-based gaming, point-of-sale applications, augmented reality and enterprise solutions and will change the way mobiles interact with their environment. Location data is stored on the backend to create analytics for the physical space. For more info visit www.qubulus.com

 

 

news