Swisscom invests in Geosatis

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21.10.2014

Geosatis is one of the Swisscom Startup Challenge winners. At the end of the week the winners spent in Silicon Valley Swisscom and Geosatis announced the closing of a financing round.

Geosatis, one of the five winners of the Swisscom Startup Challenge, will be receiving an injection of capital, as Swisscom Ventures will be supporting the start-up with financial resources from its Early Stage Fund. Geosatis develops solutions that allow criminals to be monitored electronically. Dominique Mégret, Head of Swisscom Ventures, is confident that this is the perfect time to invest in Geosatis: “The company’s technical concept has already proven successful, but in terms of commercial distribution, it’s still early days.” This is where Swisscom can contribute the leadership and financial power Geosatis needs to strengthen and grow. The two sides have agreed not to disclose the amount invested.

Geosatis developed an electronic bracelet for monitoring of offenders. The innovative GPS technology locates the person to be monitored with high reliability and precision. The system is capable of registering or detecting virtually any radio attack as well as any attempt to remove or harm the electronic components of the system.

According to an article on arcinfo.ch Swisscom was joined by private investors. All in all Geosatis raised CHF 1.6 million.

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