Bumbee Labs in a SEK 21 million funding round

Bumbee Labs, a Stockholm, Sweden, location-based software solution via wireless, announced completing a SEK 21 million ($2.5M) capital funding round.

The name of the investors was not disclosed.

The company announced that Eirik Lunde, formerly with NextGenTel, will join as chairman of the board, while Mats Lindoff, formerly with Sony Ericsson Mobile, will become a board member.

Bumbee Labs, founded by Staffan Liljenstrand, and led by CEO Karl Samuelsson, provides a SAAS solution via wireless hubs for locations interested in analyzing their indoor and outdoor customer interaction. The solution counts how many cell phones within a range of the network move within a certain area - the company measures visitor flows by capturing anonymous Wi-Fi signals in smart mobile phones and can collect data in both outdoor and indoor environments.

The visitor flows are measured completely anonymously, and the measurement method is unique in its kind, having been approved by the IMY (formerly the Swedish Data Inspection Authority) taken GDPR into account. By using this method, Bumbee Labs can produce reliable statistics on how many people visit a specific area during different time intervals, how long visitors stay in the area and what the most common walking paths are.

Bumbee Labs previously raised SEK 12.5 million in 2017.