Motorola Solutions Venture Capital, the corporate venturing unit of the eponymous US-listed network equipment maker, has led the $1m early-stage Financing for Nearbuy Systems, a local provider of location software.
The other nine investors in the round, according to the company’s regulatory filing, include venture capital firms Innovation Endeavors and Metamorphic Ventures.
Reese Schroeder, managing director of Motorola Solutions Venture Capital, said: "Indoor micro-location for shoppers and employees is a compelling solution for retailers. What attracted us to Nearbuy is the location accuracy of their solution coupled with the fact that it utilizes the retailer’s existing Wi-Fi and camera infrastructure and can be implemented quickly. "