BlooLoc increases capital by 2.2 million euros

Press Release: March 22, 2023

BlooLoc increases capital by 2.2 million euros for digital revolution in logistics

BlooLoc, located at Corda Campus, is a specialist in indoor positioning solutions in healthcare and logistics. After a first capital round in 2019, BlooLoc has now successfully completed a second capital round of 2.2 million euros. Investor of the first hour LRM, confirms its confidence in this fast-growing scale-up, together with Brahim Boulbahaiem. BlooLoc is now fully focussed on the logistics sector. Through their digital co-pilot, they are making forklifts smarter and safer.

Today, the logistics sector is facing major challenges: an acute shortage of experienced employees, a strong focus on safety, a high workload and a goal of zero tolerance for accidents. Add to this the low margins and the pressure to keep errors to an absolute minimum, and you have an ideal mix that calls for the right solution.

For this purpose BlooLoc has developed a digital co-pilot for forklifts. In 2022, several major players took up this solution. They are now pushing for its international rollout in their organizations. The smart device saves drivers from making mistakes, prevents accidents and ensures that pallets cannot be lost. Using artificial intelligence and camera systems, the digital co-pilot determines the exact position and speed of the vehicle. In addition, the co-pilot detects people and other possible obstacles, such as other vehicles in its vicinity.

This smart application alerts the driver of possible collisions and can intervene in time if necessary. In addition to the safety aspect, the digital co-pilot can also determine the exact location of the pallets, without the need for manual scanning. That information is shared flawlessly with the warehouse management system, so goods can never be lost again and human error is eliminated. Not only does this save time, it allows drivers to work more efficiently and lowers the threshold for hiring less experienced employees. In short, BlooLoc's digital co-pilot is revolutionizing logistics: despite the shortage of experienced personnel, still get more work done in a safe way, without the need for barcode scanning. Compared to large-scale and expensive automation projects, the digital co-pilot provides a quick win that immediately contributes to the profitability and competitiveness of its users.

Frank Ruette, COO of GOBO Transport & Logistics "Since we have been using the BlooLoc system, we no longer lose pallets. Therefore, we can reduce cycle counts. All our deliveries are correct. This way we avoid a lot of stress. We see the results in terms of cost savings and customer satisfaction."

Jean Paul Wauters, responsible for safety at Caterpillar, emphasizes the benefits of the BlooLoc system for the safety of their operations: "A number of check boxes in our risk analysis can now be ticked off with peace of mind. BlooLoc's system takes a lot of stress away from our operators and managers."

Ivo Vandeweerd, CEO of BlooLoc "With this capital increase, we are going to be able to better support our customers and partners and we are taking the step abroad. Automation will play an increasingly important role in logistics. Currently, the majority of logistics work is still done by manual vehicles. It is there that we are now focusing. How can we help, in an approachable way, to make that work safe, efficient and error-free. Compared to automation projects, our system enables our customers to quickly achieve the easiest goals and contribute immediately to their profitability and competitiveness. In the next phase, our digital co-pilot will not only support the driver, but also perform a number of tasks autonomously. From co-pilot to auto-pilot."

Stijn Vantilt, Chief Commercial Officer of BlooLoc "The digital co-pilot may be quite a piece of advanced technology, but the device is accessible to companies large and small. The attractive price and the fact that no infrastructure needs to be installed in warehouses make the rollout very easy and the payback period extremely short."

Tom Vanham, Managing Director of LRM "As a first-time investor, we strongly believe in the solution offered by BlooLoc. The potential for the digital co-pilot is huge. It not only makes forklifts smarter and therefore safer today, but in the next phase we also see opportunities for the forklift to autonomously perform more tasks. With the "war for talent" raging in full force, this optimization is something logistics companies are eager to have. The investment in this scale-up fits perfectly into our strategy. The company, located on the technology campus that is developed and managed by LRM, demonstrates once again that Corda Campus is fertile ground for strong entrepreneurship."