Waymap, a London-based technology company that offers a navigation app, has attracted £7 million in fresh funding to fuel international growth.
The round was led by the Telus Pollinator Fund for Good with existing investor Venrex also involved.
The investment will go toward expanding into geographies that include Asia Pacific and the Middle East, building on Waymap's presence in North Africa and Europe.
Waymap works indoors and outdoors as well as underground and aims to improve navigation accuracy to help visually impaired people and those with disabilities get around.
"Waymap has set itself the goal of revolutionizing how everyone accesses the world," said Tom Pey, founder and CEO, who is blind. "It is a global undertaking and one that requires investors, like Telus, that not only share our vision and values, but have the strength of expertise and know-how to make this achievable. At a time of reduced inward venture capital investment in the [United Kingdom], we are so proud that we have bucked the trend. This is, in no small way, down to the strength of our team, who are totally dedicated to making our towns and cities accessible for everyone."
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The investment will also enable Waymap to continue investing in "its 'sensor-fusion based' indoor localization technology."
That technology uses the gyroscope, accelerometer, barometer and compass built within smartphones to locate users with up to one meter accuracy, according to a release. Artificial intelligence, visual positioning and 5G edge computing could lead to greater accuracy.
"We're pleased to celebrate our first investment in the U.K. by leading a financial round in Waymap, which underscores the strength and growth potential of the purpose-driven startup's product and its strong leadership that work tirelessly to help visually impaired people safely navigate their daily life," said Blair Miller, managing partner of Telus Pollinator Fund. "By investing in Waymap, we can help them in their mission to foster greater accessibility, independent mobility and more efficient travel for everyone."