MOVVO SECURES €1,6M IN FUNDING FROM CAIXA CAPITAL AND SONAE E. VENTURES
Financing worth €1.6M led by Caixa Capital and Sonae E. Ventures takes Movvo to a series A of investment, allowing the company to reach new clients and pilots, namely in Europe and in the USA.
Published on: Mar 4, 2016
Transcripts - MOVVO SECURES €1,6M IN FUNDING FROM CAIXA CAPITAL AND SONAE E. VENTURES
MOVVO SECURES €1,6M IN FUNDING
FROM CAIXA CAPITAL AND SONAE E. VENTURES
October, 10th 2014, Lisbon: Building Global Innovators Accelerator (BGI) is proud to announce that
Movvo, the 1st Ed. Grand Finalist, has successfully secured € 1.6M funding from Caixa Capital and
Sonae E. Ventures.
Financing worth €1.6M led by Caixa Capital and Sonae E. Ventures takes Movvo to a series A of investment,
allowing the company to reach new clients and pilots, namely in Europe and in the USA.
Movvo (ex-Around Knowledge) is a Portuguese company created in 2009 by 3 researchers from the
University of Oporto, Portugal - Roberto Ugo, Suzy Vasconcelos and Diana Almeida, currently led by João
Ranito from Dueto, a Portuguese investment vehicle. In 2010 the 3 founders joined the Building Global
Innovators accelerator having won the Grand Finalist award worth €200k in investment.
The company developed a technology that works by identifying the signals from cell phones which are used to
measure the position of many thousands of mobile phones in real time and visualize their paths with a high
degree (up to 98%) of accuracy. Movvo’s solution passively collects all data through antennas that are
installed throughout the customer’s premises and by using proprietary algorithms to analyze it in real-time.
Sonae Sierra, an international expert in shopping centers, reached an agreement with Movvo early this year
to implement their solution in the group’s shopping centers, starting by the main centers in Portugal. The
group is the main operator in the country owing 46 shopping centers and has a strong international position
operating in 13 other geographies.
Both stakeholders and Movvo founders believe that now the company has the capital they need to take the
business to the next level, after having successfully overcome the technological development phase of the
solution and having accomplished the first implementations.
For further information please contact BGI via email@example.com
About Caixa Capital
Caixa Capital is the Private Equity and Venture Capital fund management company of Portugal's largest banking group Caixa Geral de
Depósitos, present in over 20 countries and with assets above €120 billion. It is a leading investor currently with more than €750
million under management and a portfolio of over 80 investments.
About Sonae Ventures
Sonae E.Ventures was launched in 2013, aiming to be the natural partner for entrepreneurs who want to develop their ecommerce
business. Our investment focus is on early stage companies, where ambitious entrepreneurs with innovative business models want to
be successful in the international arena and need help to achieve their goals.
BGI is a global Tech Transfer Accelerator (TTA) directed at would-be tech entrepreneurs and Innovators focused on 4 verticals: Med
Tech & Health IT, Smart cities & Industrial Tech, Enterprise IT & Smart Data and Ocean Economy. Launched in 2010 it has 50 alumni
companies in its portfolio which have raised close to €27 million and created 200 jobs.