Pozyx to raise €2.5 million from KBC Focus Fund and Saffelberg Investments

Pozyx, a Ghent, Belgium-based developer of positioning solutions with ultra-wideband (UWB), announced an investment of €2.5 million ($2.9M).

The money was raised from KBC Focus Fund and Saffelberg Investments.

Proceeds will be used to boost Pozyx's international growth by expanding its partner network and to strengthen its innovative product portfolio for smart manufacturing and smart warehousing customers.

Pozyx, founded in 2015 as a spin-off from the Ghent University and led by CEO Samuel Van de Velde, designs its own hardware, writes its own firmware and invests in the development of algorithms to make the solution more stable and robust. The company has also developed accompanying software that makes it easy to install and maintain any set-up.

Pozyx previously raised €750k from Saffelberg Investments in 2018.