Translated article – Original article published by tivi.fi on 02.07.2019. Tivi is Finland’s leading periodical for ICT professionals.
Quuppa made it onto Tivi’s 250 list (a list of Finland’s 250 largest IT companies) for the first time. Its turnover climbed to 8,9 million euros. Last year the company, which produces real-time locating systems (RTLS), invested into growth and succeeded in tripling its net profit to over a million at the same time.
Quuppa’s RTLS platform can accurately locate objects, people and equipment. The biggest use cases are in industrial factories and warehouses as well as in the security field.
“We have only been on the market for seven years. Last year our sales started to grow, as customers started to shift from piloting phase to production phase. We also got some new partners, that looked at the previous projects and had the courage to invest straight away”, CEO, Kimmo Kalliola stated.
Most of the growth came from China and elsewhere in Asia.
The most visible application for consumers is Wisehockey, developed by Quuppa and Tampere-based software company Bitwise. It adds a new dimension for the Finnish Hockey League by tracking the skating speeds of the players and puck movements in real time.
“The tracking market is expected to grow significantly during the coming five years”, Kalliola tells us.
“The growth follows that of the industrial internet, which is moving from pilot to production. Accurate tracking is crucial for IoT applications”
According to Kalliola, the year 2019 also looks good. Especially in Europe and the USA.
“Car and airplane manufacturers have woken up to the tracking market, so there are new projects planned in this field.” Quuppa now employs almost 40 people in Finland, China and the USA [to date Quuppa employs 50+ people and has also opened offices in UAE, India and Australia].
Kimmo Kalliola expects demand for Quuppa’s platform to warm up also amongst the car and airplane manufacturers this year.