IoT startup Waytation raises € 1.1 Million to further develop its product

Waytation team/ Photo: Waytation FB profile

Austrian IoT startup, Waytation, best known for the small Bluetooth chip for visitors at fairs called WayTag, has just raised  € 1.1 Million. The round was led by startup 300 and supported by two business angels, Hansi Hansmann and Johannes Siller, and the funds will be used for the startup to further develop and grow, but also to prepare itself for Series A funding.

Cemsit Yelgin, CEO & Founder / Photo: Waytation website

“The round of financing is for further growth and it is a preparation for Series A,” says Cemsit Yelgin, CEO and Founder at Waytation, Austrian web-portal Trending Topics reported.

Moreover, the startup managed to secure two new contracts, their product to be used at one of the biggest Fairs in Germany, Hannover Messe 2020,  but also at the Ligna 2019.

According to the founder, Yelgin, their device is something as a diary for visitors at fairs and conferences, or as the investor Hansmann puts it, this startup is a Google Analytics for the Offline World.

“It would be possible to calculate which parts of an exhibition are most frequently visited and which are less visited. On the other hand, the visitors who will have WayTag around their neck should get a better experience with the help of the tracking technology. In the future, visitors should be able to see in real time what else they might be interested in,” says Yelgin.

The device provides fair attendance, visitor flows and customer behavior. Founded in 2015 in Vienna, Austria, Waytation offers event organizers the first seamless solution to capture and analyze the full journey of every single visitor at any conference and exhibition using the WayTag.

With set-up, few hours before the event, and visualization in a final report on the ‘Infinity’ web platform, it is used for performance and ROI evaluation of booths, speakers, session topics and room allocations. At the moment it is possible that visitors get a digital trade fair diary via an app of the organizer or e-mail, in which they get an overview of which stands and lectures they have visited.

According to the founder, the chip gets great popularity at the U.S. market, from where, as claimed by Yelgin, the company has received a lot of requests. At the moment their product is available in Australia, Spain and France.

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