Location-tracking startup raises $3 million

LONDON — Location technology specialist Ubisense has closed a $3 million funding round, the proceeds of which will be used for product and market development. Existing shareholders Cambridge Angels and Cambridge Capital Group participated in the round.

Ubisense (Cambridge, England) focuses on real-time location systems. Its sensors use ultrawideband technology to locate people and objects to an accuracy of 12 inches in 3-D.

The company was founded in 2002 by a group of location technology experts that included Andy Hopper, head of the Laboratory for Communication Engineering at the University of Cambridge. Earlier this year, Ubisense merged with location technology consultancy Ten Sails in a move that more than doubled Ubisense's head count.

Ubisense said its customer base grew roughly 25 percent in the first quarter. The company also said it received Federal Communication Commission (FCC) certification for an ultrawideband system that lets users set up in-building networks.