Osram acquires a stake in beaconsmind

Osram has gained a strategic minority interest in the start-up that offers smart software to retailers, enabling a personalized approach to customers via its venture capital unit, Fluxunit. 

Osram is already successfully collaborating with the Swiss company. In a partnership initiated about two years ago, Osram's internal start-up Einstone supplies intelligent beacons, while beaconsmind provides the customized software for them. Einstone beacons for site-based services are smart transmitters that can be integrated into light installations. “The sales approach via smartphone is really popular with users and has boosted consumers’ willingness to spend money,” said Max Weiland, the Chief Executive Officer of beaconsmind. “We are really excited to expand our successful partnership with Osram with this investment.” We have already demonstrated together that our smart retail solution can generate double-digit gains in stores’ sales,” added Christoph Peitz, the Director of Osram’s global Einstone business.

The foundation of the innovative solution is formed by a personalized approach to customers, detailed analysis and the linking of sales channels at retail stores, fashion brands and shopping centers. With the help of individual brand apps, customers can be informed on site about interesting deals and learn about loyalty programs. Offline, online and mobile data are intelligently joined and provided to the retailer. With this information in hand, the retailer can optimize his or her product portfolio, customer communications and, ultimately, the shopping experience.

Fluxunit supports and develops both internal and external start-ups. “Beaconsmind is a very good fit with Osram,” said Ulrich Eisele, the Managing Director of Osram’s Fluxunit. “Working together, we can actively shape the future of the stationary store business in this age of online retailing.” 

OSRAM with headquarters in Munich, Germany is a globally leading light manufacturer with a company history spanning approximately 100 years. The product portfolio contains high-tech applications based on semiconductor technology such as infrared and laser. Products are used in a wide variety of applications ranging from virtual reality, autonomous driving and mobile phones to networked, intelligent lighting solutions in buildings and cities. The company is global technology and market leader in the automotive lighting technology sector. OSRAM employed around 24,600 people worldwide in the fiscal year 2016 (to 30 September) in its continued business divisions (without Ledvance), and achieved turnover of 3.8 billion euros in this fiscal year.

(Press release)