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Insiteo Secures First Round Funding

New venture brings location-based services indoors

PARIS, 24 September 2009 – Insiteo, a company specializing in innovative solutions for indoor geo-location, has concluded the initial phase of a funding round valued at several million euros. Investment has been secured from Emertec and a small group of private investors, including Anne-Sophie Pastel, former CEO and co-founder of auFeminin.com, with the support of ACTA Finance and the law firm of Pinot de Villechenon & Associates.

“The increase in capital will enable us to equip our first clients, including a major site in Paris attracted by the benefits of the Insiteo solution,” said Arnaud Masson, President of Insiteo. “Ours is indeed a disruptive technology able to deliver to most existing phones a perfect continuity of location services in environments where GPS is unavailable, including commercial centers, tradeshows, and industrial sites,” Mr. Masson continued. “Insiteo occupies a key position in the value chain of a market expected to grow sharply in coming years. We are delighted to welcome these experienced investors to our Board and the presence of Emertec, in particular, underscores our mutual commitment to quality.”

“Accurate, ubiquitous location remains one of the key inhibitors to future LBS growth,” said Patrick Connolly, Research Director at IMS Research. “For certain applications, GPS alone doesn’t offer sufficient coverage or availability, whereas WiFi and Cell-ID do not offer consistent accuracy. Insiteo promises to address this problem head on and does so using technologies already widely available in mobile phones today.”

“We were impressed by the depth of the market for indoor location where Insiteo has a unique value proposition. Its founders are experienced managers with a strong international culture. Our investment, even at this early stage, has attracted the unanimous enthusiasm of the team,” said Bernard Maître, President of Emertec.

“This operation shows that, in France, premier venture fund managers are still attuned to the technology propositions of senior leaders,” said Jean-Denis Cornillot, managing partner of ACTA Finance.

About Insiteo

Insiteo specializes in location solutions based on multiple technologies compatible with mobile phones currently on the market. The Insiteo solution is especially effective for complex indoor sites that serve large audiences and where the absence of reliable location information generates costs, creates stress and impacts safety.

Insiteo is based in Toulouse, with offices in Paris and Amsterdam. The company was awarded the Special Prize of the European Space Agency for its submission to the Galileo Masters Competition in 2008.

Insiteo was founded and is managed by Arnaud Masson (École Polytechnique, Sup’ Aéro, Stanford, and former technical director for Galileo), Pierre Varrod (L’Oréal and founder of TAO City), Marc Nedelec (Mappy and Geoconcept), and Stuart Strickland (Harvard, Columbia, and former LBS VP at CSR and GNSS Director at SiGe Semiconductor).

Additional information can be found at www.insiteo.com.

About Emertec

Emertec is a partnership venture with €120 million under management, specializing in issues of mobility and cleantech. As a close observer of research, Emertec aims to fund breakthrough technologies with strong market potential.

About ACTA Finance

ACTA Finance is a specialist business consultancy for innovative corporate finance transactions. Its team has participated in the success of dozen of companies, including Notrefamille.com (Alternext ALNFA), Wanimo.com, and SanteVet.com.

Contact: Arnaud Masson, President

+33 (0) 6 07 67 81 50

arnaud.masson@insiteo.com