SafeLoc Systems has raised €1.45m to scale its industrial location technology and support international expansion. The round was led by Kutxa Fundazioa, alongside BeAble Capital and Basque Tek Ventures. The company says the funding will help bring its real-time system for locating people and vehicles into wider industrial use.
How did SafeLoc reach this round?
SafeLoc Systems was created in 2023 by BeAble Capital as an industry builder, according to the source. The company began as a spin-off from CEIT, a centre focused on applied research and development. Its technology draws on more than 15 years of research and development in radiofrequency and location systems.
The company specialises in technology intended to reduce workplace accidents in hazardous areas of factories, mines and bridges. Its system is designed for industrial environments where machinery, metal structures or adverse conditions can complicate location. SafeLoc says it can locate people and vehicles to between 10 and 30 centimetres.
What did the new investors fund?
Kutxa Fundazioa led the €1.45m investment with BeAble Capital and Basque Tek Ventures, a venture capital fund managed by SPRI, the Agencia Vasca de Desarrollo Empresarial. The stated use of the proceeds is to scale the technology industrially and support the company’s next phase of international expansion. The source does not specify how much each investor contributed.
A funding round is an investment in a company in exchange for a stake or other agreed terms. The source reports that SafeLoc Systems has a valuation of €4.5m, but does not explain the valuation basis or disclose the terms of the investment. It also does not say how much of the new funding is allocated to industrial scaling compared with expansion.
Where does the company operate?
SafeLoc Systems is already present in España and México, according to the source. The company identifies Polonia and Marruecos as its next immediate markets. It also intends to develop business in Francia, Italia, Portugal, Alemania and República Checa.
The source names Gestamp, ArcelorMittal, Ternium and ABB as existing customers. SafeLoc says its location system can support both safety and operational tracking of assets. Its stated focus spans steel, automotive, aeronautics, logistics, naval and construction settings.
What remains unclear about expansion?
SafeLoc says its system can identify the severity or danger of a zone in hostile environments. The company links this function to reducing workplace accidents and improving industrial operations. Those outcomes are company claims; the source does not provide an independently measured accident reduction.
The company also estimates that its system can recover up to 12,000 working hours a year per plant and save €350,000 annually per plant. The source does not set out the method behind those estimates or say how many plants currently use the technology. It also gives no launch dates for the named prospective markets.
The next steps to watch are industrial deployment and progress in the markets SafeLoc has identified. The source does not disclose the timing or scale of either. Further information would be needed to assess how the reported savings vary across industrial sites.