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baltermedical.com

Stage

Seed | Alive

Total Raised

$2.2M

Last Raised

$2.2M | 13 yrs ago

About Balter Inc.

Provider of a non-invasive technology for the diagnosis of tissue lesions. The company provides a non-invasive technology that will assist physicians in the diagnosis of tissue lesions.

Balter Inc. Headquarter Location

465 Ridgewood Road

Maplewood, New Jersey, 07040,

United States

(305)213-7590

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Latest Balter Inc. News

Israeli Startup Provides Indoor GPS For Supermarkets, Stores And Smart Buildings

May 18, 2022

Navigating a shopping mall is no easy feat but Oriient can help you find your way indoors and the product you are looking for. Have you ever left a store because finding the right product had become too time-consuming? You’re not alone. Seventy-five percent of millennial shoppers have reported leaving without purchasing an item and instead chose to buy that item online, according to the  12th annual Global Shopper Survey  from American mobile computing company Zebra Technologies. Fifty-three percent of Gen X shoppers reported doing the same. In-house research conducted by Israeli startup Oriient has also reported that one in three people end up not buying at least one item because they can’t find it quickly enough. According to Oriient CEO and Co-Founder Mickey Balter, retailers are now realizing this and looking to implement solutions to locate items fast with the potential to alleviate this issue and see an immediate effect on revenue numbers. Oriient has developed an indoor positioning system that provides accurate and easy-to-deploy navigation inside buildings with a smartphone, and no hardware, cameras, or installation needed. More specifically, the company has taken on a retail focus — helping customers navigate “large format” stores (10,000 square meters!) and supermarkets “Quite simply, the system today is not just about understanding where people are. Because of our retail focus, it’s also about where products are,” Balter says, before describing how Oriient’s tech works in an app. There’s a shopper and they have their shopping list, he says. The shopper has a search tool as part of an app that can help them search for a product and add it to the list. The system then guides the shopper with the most efficient route through the store or the supermarket “down to the shelf,” Balter explains. “It can guide you directly to the shelf of a product you are looking for. This is where the one-meter accuracy really comes into play.” The technology can be integrated into a third-party application, like the app for a multinational retailer like Walmart or a home improvement retailer like Home Depot. Even though the company is only at the Series A stage, after raising $11 million , the company already has large format stores as customers, though Balter won’t disclose their names. He tells NoCamels that there is at least one from the “top 5 of the large big box retailers in the US.” (Think stores like Walmart, Target, Home Depot, or Lowe’s. These retailers have large physical locations and offer a wide selection of products and services for purchase.) Oriient’s technology in a third party app helps navigate the store and find specific products. Courtesy. One partnership that Oriient has disclosed to the public is its cooperation with Instacart, the US company that operates a grocery delivery and pick-up service in the US and Canada. The company, which offers its services via a website and mobile app, allows customers to order groceries from participating retailers with the shopping done by a personal shopper. In March, Instacart announced that they’ve added Oriient’s in-store navigation solution to their mobile app and that it’s now available in hundreds of stores, with more coming soon. They told Tech Crunch the solution gives shoppers an interactive map of the grocery store where they are shopping and the map includes precise locations of items to help shoppers find items more easily. They also said the company was piloting the new feature with 15 of its retail partners at more than 80 store locations across 17 states in the USA and the province of Ontario in Canada. “This is only the beginning,” Instacart said in its official announcement . It noted that it plans to add more retail partners and locations in the future. Sign up for our free weekly newsletter The Waze of indoor navigation? The concept behind Oriient is beyond just in-store navigation, Balter tells NoCamels. Oriient is an indoor GPS that offers navigation and location services, he explains. What makes it unique is that “we basically achieved what is considered the holy grail for indoor positioning in the sense that it’s highly accurate, within one meter or three feet, while being a software-only solution that doesn’t require any hardware installation in the building whatsoever,” he says. Oriient, a Tel Aviv-based company founded in 2016, took a good four years to fine-tune its technology to establish a platform that can work without hardware, beacons, or Wi-Fi to locate its user inside a store, office, etc or indoor location. “We play in a niche that we basically created, and only became possible in 2016. By leveraging Earth’s magnetic field and the sensors in the smartphone, we’re able to combine the best of both worlds [without Wi-Fi or hardware.] So we’re able to provide a very accurate solution that we feed accuracy, plus make it highly scalable because it’s a software-only solution. You basically don’t need to install a single piece of hardware in the store. So this creates a new niche. And this is basically what the market needs because that’s what GPS provides — an accurate and scalable solution. within that niche,” Balter says. Oriient co-founders (l to r) Mickey Balter and Amiram Frisch Behind the scenes, there’s “a lot of machine learning going on” related to how to process the magnetic field, and how to process the phone and sensor data, Balter says. “It’s like Shazam for magnetic fields,” he explains, referring to the application that can identify music, movies, advertising and tv shows based on a short played sample and the device’s microphone. “The phenomena is that every building has a unque magnetic landscape created by the building. Before the metal content of the structures, there are slight distortions introduced into the Earth’s magnetic field. And this create a relatively unique, relatively stable magnetic landscpae. Smartphones are now accurate enough to pick up these very small distortions where we basically leverage the compass in your phone.” “So as you walk around the building, we basically process what your phone senses, analyze it with the magnetic landscape of the building and we can determine where you are in the building with three of accuracy,” he explains. And Oriient is the “only solution currently” that’s truly a pure play company with zero hardware., Balter adds. A pure play company focuses only on a particular product or activity. “We only use what’s already in the phone without adding anything. And we use Earth’s magnetic field as is. This gives us the benefit of being cross-platform and working the same way in both Android and iOS devices,” Balter explains. For Oriient, the next five years means “illuminating all buildings in the world with our indoor GPS and basically making it availabe for any app that requires indoor location services,” Balter says. “We have a broader vision on on on our on the horizon of basically becoming indoor GPS of all the buildings in the world, not just retail locations. We started in retail. But the technology can be applied further. And that’s where we’re going with this,” he adds. Subscribe to NoCamels weekly newsletter and get our top stories

  • Where is Balter Inc.'s headquarters?

    Balter Inc.'s headquarters is located at 465 Ridgewood Road, Maplewood.

  • What is Balter Inc.'s latest funding round?

    Balter Inc.'s latest funding round is Seed.

  • How much did Balter Inc. raise?

    Balter Inc. raised a total of $2.2M.

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