Berlin-based retail analytics startup MiNODES secures €3.55M from London’s Market Tech

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MiNODES aims to become the leading “Big Data” service provider for traditional retailers, targeting visitors on digital devices to create innovative omni-channel solutions for retail marketers. A 25% stake in the Berlin-based startup has just been acquired by Market Tech, which intends to help MiNODES accelerate its global growth and increase its activities in the UK and the US.

Another prominent stakeholder of MiNODES is Project A Ventures, an early-stage fund investing in entrepreneurs in the fields of e-commerce & marketplaces, infrastructure & data and software as a service.

Founded in 2013, MiNODES analyses a combination of in-store data sources, such as Wi-Fi and Bluetooth beacons, providing detailed insights into visitor experience and behaviour – with the aim of converting footfall into paying customers – for more than 50 retailers operating across 12 countries over an area of approximately 10 million square feet. MiNODES’ current clients include some of Europe’s largest shopping mall operators, global automotive OEMs, as well as leading supermarket chains in Europe and the Middle East.

Commenting on the investment, Market Tech’s CEO, Charles Butler, said: “We have been impressed by MiNODES’ analytics which we have been using at our real estate assets for the last five months and this investment represents a significant strategic addition to the Group. The MiNODES analytics are helping us to optimise our real estate assets and we will also benefit from the company’s success as it increases its activities, placing Market Tech at the forefront of deploying digital capabilities to traditional real estate assets.”

MiNODES’ CEO and Founder, Tim Wegner, added: “We are very happy to strengthen our relationship with Market Tech, which has already proven successful during the past months of intensive collaboration. Market Tech brings in a considerable real estate footprint as well as extensive digital technology know-how, which makes it the perfect strategic partner for MiNODES’ aspirations. We are now looking forward to accelerating MiNODES’ international expansion, especially in the UK and in North America.”

Check out the video below to learn more about how MiNODES works: