Osram invests in Zurich-based startup

Osramannounced that it has acquired a strategic minority interest in beaconsmind via its venture capital unit Fluxunit. As an iBeacon full-service provider, the Zurich-based startup drives sales and customer loyalty in store-based retail by helping retailers develop a personalized approach to customers. For instance, individual brand apps can inform customers about interest deals or teach them about loyalty programmes. Offline, online and mobile data are intelligently joined and provided to the retailer, which can then use this information to optimize their customer communications. 

Osram and beaconsmind have been successfully collaborating for the past two years. Osram supplies intelligent beacons, which are smart transmitters that can be integrated into light installations, while beaconsmind provides the customized software, which targets customers in shopping centres and retail stores via their smartphone. 

“The sales approach via smartphone is really popular with users and has boosted consumers’ willingness to spend money,” said Max Weiland, CEO of beaconsmind. According Osram, the smart retail solution can generate double-digit gains in sales.