Bumbee Labs raises 21 MSEK and appoints Eirik Lunde as Chair

Sting company and footfall analytics leader Bumbee Labs has raised SEK 21 million in new capital and appointed Eirik Lunde as chair of the board. The Sweden-based company will now focus on expanding further into international markets following this latest round raise.

Bumbee Labs is set for strong international growth due to its partnerships, compelling intellectual property assets and competitive advantage when it comes to creating value from footfall analytics. The majority of the investment comes from strategic investors in Norway, underlining the international appeal of Bumbee Labs' offering.

The company has partnerships with major players such as Telia Company, which provides mobile connectivity to millions of people in Scandinavia and the Baltics.

Eirik Lunde has been appointed as Executive Chair of the Board and will support the leadership team in securing partnership agreements across the US, Europe and Asia. Lunde has vast experience in the telecommunications sector and currently also serves as a board member at both BITPRO AS and NextGenTel. His former CEO positions include tenures at NextGenTel Holding ASA, Telio and Ventelo. Eirik has a background in finance and marketing, and completed management programs from both Insead and the London Business School.

Lunde outlines his focus for the future: “The last year has taught us much about the nature of uncertainty and volatility. Bumbee Labs continues to create value with footfall data in order to equip its partners to plan ahead with greater knowledge and certainty.” Lunde aims to increase the pace of innovation and seize opportunities within a dynamic market.

Karl Samuelsson, CEO of Bumbee Labs, says, “We are very pleased to welcome Eirik Lunde with his deep experience and leadership in high-technology businesses. Together as a leadership team, we will push hard to continue the growth of Bumbee Labs.”

Mats Lindoff has also been appointed to the Board of Directors for Bumbee Labs. Lindoff served as former Head of Technology at Sony Ericsson Mobile. He has an Honorary Doctorate in Engineering from the Faculty of Engineering, Lund University. Lindoff is a member of the Board of Directors for Precise Biometrics, Combain Mobile and ENEA. As an experienced technology executive, Lindoff also invests in telecom companies.

“Mats Lindoff was one of the first people that worked with cellular phone technology in the 1980s. After over 25 years of managing innovative technology companies, he brings rich and relevant experience, as well as plenty of business experience, to the Bumbee Labs board,” says Samuelsson.

The pandemic has accelerated the pace of industry digitalization - leading to an ever-increasing demand for data and analytics. Demand for footfall analytics as a pivotal business intelligence tool continues to grow from retailers, cities, shopping malls, transport hubs, offices and many others.

Bumbee Labs measures visitor flows by capturing anonymous Wi-Fi signals in smart mobile phones and can collect data in both outdoor and indoor environments. The visitor flows are measured completely anonymously, and the measurement method is unique in its kind, having been approved by the IMY (formerly the Swedish Data Inspection Authority) taken GDPR into account. By using this method, Bumbee Labs can produce reliable statistics on how many people visit a specific area during different time intervals, how long visitors stay in the area and what the most common walking paths are.

For any further questions, please contact Karl Samuelsson, Bumbee Labs CEO:

+46 707 588971

karl.samuelsson@bumbeelabs.se