The indoor location tech company plans to use the funding to further develop its technology, accelerate distribution
Tokyo-based indoor location tech company TAGCAST today announced that it has secured JPY50 million (US$457,406) of Series A round from angel investor group Gukuedo.
The company plans to use the funding to further develop its beacon technology and cloud services, and accelerate distribution in global market.
TAGCAST’s smart IoT products aim to ‘make up what GPS cannot do’, enabling users to use location information services even in places where GPS is unavailable.
There are three products that TAGCAST is offering: battery-powered and easy-to-use TAGCASTBeacon, light bulb-unified LEDBeacon that is most suitable for home use, and PaperBeacon, which the company claimed to have brought ‘big impact’ into O2O and omnichannel field in Japan.
In restaurants, visitors can use PaperBeacon to place order simply by putting their smartphones on the device, that is placed on the dining table. Waiters will be able identify which table had placed the order through an integrated system, while visitors can also use their smartphones to make requests, including asking for checks.
It has been adapted into 10 languages by US-based Putmenu.
Apart from IoT devices, TAGCAST also provides cloud service that enable their clients to manage information effectively.
The service utilises big data to analyse user behaviour in both outdoor and indoor locations. It can be used by stores and restaurants to send out coupons and points to visitors’ smartphones based on actual visits as recorded by the system.
TAGCAST has acquired basic patent rights in Japan and South Korea for their beacon products, and is currently applying for patents in the US, Europe, and China.
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