Humatics, an American start-up which specializes in micro-location technology has completed its series A1 funding round. The company has raised$28M and its total financing is more than $50M. The announcement was made public on Monday.
The company intends to use the fundings for the manufacturing of its KinetIQ 100 peer-to-peer ranging product and speed up marketing for its KinetIQ 300 product for 3D positioning. Apart from that, the money will be used in the development of its brand new 25,000-square-foot headquarters.
Tenfore Holdings led the funding round. Other investors of the A1 funding round included JCI Ventures, Colorado-based Blackhorn Ventures, Presidio Ventures, Lockheed Martin Ventures, Airbus Ventures,andFontinalis Partners.
Humatics completed two acquisitions after the completing the Series A round. Earlier in 2018, it took over a company called 5D Robotics and its subsidiary, Time Domain, a company that develops ultra-wideband technology.
“I am proud of our team’s incredible milestones this past year, with this new financing, we will address the best problem a growing company can face: overwhelming customer demand,” quoted David Mindell, co-founder,and CEO of Humatics.
The company was incorporated in 2015 and since it develops millimeter-scale positioning technology that can be used for autonomous vehicles, human-robot collaboration, drone control,and many other applications.
The company’s upcoming product includes a KinetIQ 1000. It can pinpoint multiple sensors wirelessly down to 1 millimeter using RF technology. As a startup, there are a lot of competitors but Humatics journey has been quite good.