Focal Point Positioning seeks £7.5m in new funding round

Cambridge headquartered positioning technology company, Focal Point Positioning, is seeking £7.5 million in a new fundraising round. The business is advertising a number of senior engineering roles to facilitate rapid global scale-up.

Outlining the new commercial thrust, founder and CEO Dr Ramsey Faragher said: “We are very fortunate to have a lot of interest in a planned funding round as we look to scale the company to meet all of the interest we have from our smartphone partners.
“This next 18 months are going to be very exciting as we execute against our commercial strategy and serve more customers with our positioning software.”
Focal Point Positioning is regarded as leading the world in positioning software that enables accurate positioning everywhere. Its multi-platform solutions are built on what is regarded as unique technology that dramatically improves the accuracy and trustworthiness of positioning in any environment, inside and outside.
Its products work on all personal devices and autonomous platforms and have broad application across a broad range of industries, in particular transport (autonomous driving) and creative industries (AR/VR).
Focal Point’s objective is to ensure that every location-based system in the world achieves maximum usefulness through precise and reliable positioning. Focal Point’s executive team recently met with investors to present its current progress and discuss its roadmap for delivering disruptive positioning solutions into the smartphone and automotive sectors.
Dr Faragher says: “As we approach the end of our fourth year we are entering into a new round of funding in order to fuel our growth. We have been fortunate to work with investors from a broad swathe of the UK’s startup funding community with early stage VC’s such as Passion Capital and IQ Capital to experienced entrepreneurs in the Cambridge Angels.
“As we aim for our technologies to be generating revenue in the next 12 months, the shape of the business has to reflect this ambition. We are accelerating our growth in the technical teams to meet the demands of commercially-deployable technologies and the creation of new commercial functions in order to lead our business development and product development strategies; we are shedding our startup culture and kicking into a higher commercial gear.
“We are very fortunate to have a lot of interest in a planned funding round as we look to scale the company to meet all of the interest we have from our smartphone partners.
“This next 18 months are going to be very exciting as we execute against our commercial strategy and serve more customers with our positioning software.”
Original article, by Tony Quested, can be found on Business Weekly