A group of business angels members of Italian Angels for Growth (IAG), leading business angels network in Italy, invested 200k euros in GiPStech, an Italian startup company founded and led by ceo Gaetano D’Aquila. Matteo Faggin, one of the founders of a wellknown Italian startup acclerator SeedLab, is also among the founders of GiPSTech.
GiPStech or Geo Indoor Positioning Systems and Technologies, develops an innovativel technology able to identify a precise position of a moving person inside a closed space (indoor) even if a satellite signal is not available.
The technology works on an ordinary smartphone. Through the smartphone is detected the dynamics of the user and the conformations of the geomagnetic field of the place where the individual moves. This information are combined and used to determine the user’s location.