Humantics Corporation, which makes microlocation products and software, announced Monday that it raised $28 million in Series A1 financing.
This is the second funding venture for the Waltham, Massachusetts based startup, bringing its total to $50 million. This funding round was led by Tenfore Holdings, joined by Blackhorn Ventures and JCI Ventures, and previous round investors including Airbus Ventures, Lockheed Martin Ventures, Presidio Ventures, Fontinalis Ventures, and debt financing by Silicon Valley Bank.
Humantics will use the funding to scale production of its KinetIQ 100 peer-to-peer ranging product and speed up marketing for its KinetIQ 300 product for 3D positioning. The company is targeting several industrial microlocation applications in manufacturing, warehousing and commercial ports needing at least two centimeters of precision and repeatability up to 500 meters away.
As part of the funding deal, Tenfore’s managing partner Dan Levine will join Humantics’ board.
“With its strategic focus on industrial applications, Humantics microlocation can unlock tremendous value by driving greater efficiency and safety in factories, warehouses, ports and logistics centers,” said Levine in a statement. “