EMV Capital leads £3.4m investment in smart sensor maker PointGrab
PointGrab, a maker of smart sensors that help businesses maintain social distancing in post-COVID offices, has completed a £3.4m equity raise led by specialist venture capitalist EMV Capital.
PointGrab’s product is a smart workplace platform system enabling organisations to count, track the flow and locate people at individual desks, on floors or across an entire campus. It alerts users when social distancing measures are breached.
The system also features cleaning and sanitation measures to help make offices COVID secure. The platform is already used in over 40 countries, by 45 Fortune 500 Companies.
With the return to the office now in sight, globally, employers are working on ways to help their teams return to work in safe environments that meet new COVID-secure working practices.
PointGrab’s solution is well tried and tested, having been deployed in over 200 locations across five continents. It offers an immediate and integrated solution to the problems facing commercial real estate manager and companies in a post-COVID world. This funding will build on a solid pipeline of new deployments globally.
EMV Capital’s syndicated investment will be used to address increasing requirements from PointGrab’s new and existing clients to provide technological solutions to help people return to offices in a COVID-safe manner. This funding round includes investments from existing PointGrab investors, EMV Capital’s parent company NetScientific PLC and new EMV Capital private investors.
Doron Shachar, PointGrab CEO, said: “PointGrab will use this investment to consolidate our position as a leader in the growing smart office market segment, and continue to service Fortune 500 and other industry leader clients. Our platform enables creative and stress-free working environments by providing real-time data and flexibility to employers, compliant with new health and safety regulations. PointGrab is expanding to help its customers adjust to this new business landscape, accelerating the return to business as usual, while reducing public health risk.”
EMV Capital’s CEO and Pointgrab Board member Dr. Ilian Iliev said: “As a long-term investor, we backed Pointgrab management’s vision of using smart technology for a safe, productive and flexible office environment. In line with our pro-active investment strategy, we worked with the management team throughout the COVID crisis to help evolve corporate and investment strategy in response to the once-in-a-generation shifts in corporate practices unleashed by COVID. We were happy to see both existing and new investors take advantage of our syndication model, including our parent company NetScientific PLC.”