EIT RawMaterials-supported start-up acquired by major industrial solutions firm
The Swedish Industrial Technology (IndTech) company Widefind, supported by EIT RawMaterials since 2019, has been acquired by Mobilaris Industrial Solutions. Mobilaris specialises in making the vision of zero workplace accidents a reality. They will use Widefind’s expertise in Ultra Wideband technology to enhance their solutions for safer, more sustainable industry. UWB is a technology that makes it possible to determine distance, movements and positions of machines, people, and vehicles with very high precision and reliability.
The technology is becoming increasingly important for smart industry. It has a wide range of use, for example to warn people getting close to dangerous machines or prohibited areas. Speaking about the Widefind success, Director of EIT RawMaterials Innovation Hub North, Olli Salmi said:
The Widefind exit marks a milestone in the investment portfolio of Innovation Hub North. EIT RawMaterials invests in early-stage start-ups where lead times to success are typically lengthy. I am therefore very happy to see the investment strategy bearing fruit and the companies we support increasing their potential to make it on the market. I very much look forward to further success in helping young companies to thrive in the raw materials sector.
Olli Salmi, Director of EIT RawMaterials Innovation Hub North
Widefind was founded in 2016 by researchers and engineers within the Field Robotics group at Luleå University of Technology’s Department of Systems and Space Engineering. The company works to enable digitalisation and autonomous operations in the complex environments found in heavy industry. Widefind’s main expertise is in Ultra Wideband (UWB), positioning, and robust systems. The offering consists of a reliable positioning solution that contributes to increased safety, efficiency, and productivity.
Widefind was supported by EIT RawMaterials through the Booster Call 2019, and later that year, accepted into the RawMaterials Accelerator programme. In 2020, Widefind proceeded in the RawMaterials Accelerator joining the first cohort of graduates. Markus Sjölund, CEO of Widefind said:
Through the EIT RawMaterials ecosystem, we were connected with some of the companies that would play a big part in our growth as partners and early customers. Thanks to the support from EIT RawMaterials, we had access to the right people and got the sway we needed.
Markus Sjölund, CEO of Widefind