**Exclusive:** UK-based Movvo, a shopper engagement and analytics platform, has closed a Series A funding round of €5.5 million, led by Caixa Capital and Sonae IM. Dueto also participated.
Movvo, built on the Movvement Intelligence platform, uses sensors in physical stores and shopping centres to analyse footfall and shopper behaviour by gathering anonymised data from Wi-Fi and cellular. It is certified by the TRUSTe’s Privacy Seal.
The startup intends to use the new funds to further its growth in its three main markets – Europe, North America, and Asia – as well as continue development of the platform itself.
“We have an exceptionally talented team in place, and the product is ready. The continuing support from Caixa Capital, Sonae IM, and Dueto is giving us the platform for a careful but rapid global expansion,” said CEO Cyrus Gilbert-Rolfe, who joined the company late last year. “We now have clients in Australia, China, the US, Panama, and all across Europe. With this Series A now secured, we will continue to grow both the product and the footprint, at pace.”
“In the last couple of years, we have been contributing with our business expertise and industry networking to develop a killer product and gain important customers at Movvo,” added Eduardo Piedade, executive board member of Sonae. “We are convinced that the team has all necessary ingredients to take Movvo to the next level and become a leading player in the global arena.”
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