Viloc, an Antwerp-based startup that is working to win over the construction industry with its inventory management platform has raised €2.5 million, primarily from Dutch telecom company KPN.
The platform so far is aimed at construction companies in Belgium and the Netherlands. It allows them to manage their inventory of tools and equipment used by contractors. It collects information about the location of the tools via a transmitter that is attached to each one. Without a system like this, the startup claims that 40% of these tools are never used, 20% are incorrectly accounted for, and 10% are stolen annually. The company was founded by Tim Gestels in 2010.
Read more (in Dutch): Tild.be