According to the Portugal Business News, Portuguese startup Azitek ranks in the Top Indoor Location Markets globally, according to a new report by MarketsandMarkets.
Azitek is a startup based in Porto, Portugal, specializing in proprietary RFID systems with high-accuracy technology. The innovative system combines long-range tracking with precision capabilities, utilizing cost-effective and long-life tags to deliver unparalleled asset visibility and unlock new applications beyond traditional RFID.
Azitek completed a 750,000 euros funding round led by Beta Capital, in co-investment with Portugal Ventures as the initial investor and Cedrus Capital in June 2024, bringing the capital raised by the Portuguese startup incubated at UPTEC in Porto to over €1 million.
The Indoor Location Market is projected to grow from USD 11.9 billion in 2024 to USD 31.4 billion by 2029, at a CAGR of 21.4% during the forecast period, according to a new report by MarketsandMarkets™. The indoor location market is predicted to grow quickly due to the demand for indoor positioning systems including navigation and asset tracking services. Various retail stores integrate beacons and Wi-Fi with in-store signage systems that give customers the remote control to decide what product information or details they want to see.
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. It provides growth consulting and program management solutions, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space.
Azitek is a startup based in Porto, Portugal, specializing in proprietary RFID systems with high-accuracy technology. The innovative system combines long-range tracking with precision capabilities, utilizing cost-effective and long-life tags to deliver unparalleled asset visibility and unlock new applications beyond traditional RFID.
Azitek completed a 750,000 euros funding round led by Beta Capital, in co-investment with Portugal Ventures as the initial investor and Cedrus Capital in June 2024, bringing the capital raised by the Portuguese startup incubated at UPTEC in Porto to over €1 million.
The Indoor Location Market is projected to grow from USD 11.9 billion in 2024 to USD 31.4 billion by 2029, at a CAGR of 21.4% during the forecast period, according to a new report by MarketsandMarkets™. The indoor location market is predicted to grow quickly due to the demand for indoor positioning systems including navigation and asset tracking services. Various retail stores integrate beacons and Wi-Fi with in-store signage systems that give customers the remote control to decide what product information or details they want to see.
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. It provides growth consulting and program management solutions, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space.
