Microlocation tech company Humatics announced this week it has raised $28 million in a Series A1 financing, and is planning on expanding its Huntsville offices.
Humatics will move into its new office along Corporate Drive Northwest sometime in the second quarter of this year. Co-founder and CEO David Mindell said this will open up new engineering and sales positions in Huntsville, growing the workforce by about 20 percent in 2019.
The Waltham, Mass.-based company specializes in microlocation technology. Mindell said it can best be understood as a more precise, local GPS that works both indoors and outdoors. The technology allows robots, cranes, trains and other vehicles to more precisely navigate an area to within an inch of its location at all times.
Mindell said the company isn’t disclosing how much money was going into the expansion of its Huntsville operations, but he did term it a “significant amount.”