Backing the Visitor Analytics Platform That Turned Profitable and Moved Into the US
28DIGITAL's initial seed investment
total capital raised to date
current valuation
marked multiple, unrealized
obs created since investment, as of Aug 2026
sensors installed, a 2023 milestone
Ariadne Maps combines patented phone signal sensing with Time-of-Flight depth sensing, an approach it calls Hybrid Fusion, to count people with sub-meter accuracy. Retailers, airports and transport operators use it to measure visitor numbers, routes and flows, and to plan staffing, while keeping the data anonymous.
IT BECAME A REAL BUSINESS
Ariadne now runs on multi-million annual recurring revenue. It has been profitable since August and cash-flow positive since November. For a deep-tech company in indoor positioning, that is a notable milestone. The company has created 25 jobs since the investment, as of August 2026, and serves more than 25 SMEs.
Dr. Georgios Pipelidis, CEO and Co-founder
THE INVESTMENT
28DIGITAL made its first investment in 2019 at Seed with €0.67 million, and the company remains in its portfolio. Marathon Ventures is a co-investor in later rounds. It led a €2 million seed round in 2021 and a €6.5 million Series A in 2023. Ariadne Maps has raised €15 million in total. The fund marks its position at a €67 million valuation, a 10x multiple.
A SHIFT TO THE UNITED STATES
The company moved its centre of gravity to the US. Its European base in Munich remains, but the commercial momentum is now American, backed by a US entity in California and deployments at San Diego Airport and Chicago's regional transit authority. The latest funding is aimed at commercial expansion.