We told you this was a startup to watch in 2016…

Movvo has just raised a Series A investment of € 5.5 Million. This investment round was co-led by Caixa Capital and Sonae IM, with co-investment from existing angel investor Dueto.

Movvo’s ground breaking technology uses multiple sensors to understand, predict, and influence shopper behaviour, with accuracy levels and productised insight surpassing that of all other providers. Movvo’s Movvement Intelligence platform enables new opportunities for businesses to monetise their physical space and provide a true omnichannel experience to their visitors for the first time. Spaces such as shopping malls, city centres and entertainment venues are all taking advantage of this new generation of technology, and Movvo sits at the forefront of an exciting new industry. Movvo was the first location service vendor to be awarded the TRUSTe’s Privacy Seal, certifying all data collected remains anonymous and cannot be compromised.

The funds will be used to extend the capabilities of the SaaS platform through investment in research and development, including broadening platform capabilities with new in-store and in-mall location, predictive, and engagement technologies. With headquarters in Porto, the company will also use the funds to accelerate growth in its existing markets: Europe, North America, and Asia.