FinTech news in gps category

Oriient, which powers the platform that Instacart shoppers use to gather their orders in hundreds of stores in North America, this week announced that it has raised an $11 million Series A round, which brings its total funding to $16 million. The idea behind Oriient, which currently has 35 employees, is to offer an indoor positioning platform that can work without any dedicated hardware, beacons or Wi-Fi to locate you inside an airport, office, store or anywhere else without access to a GPS signal.

The group is a bit opaque on how performance from the fund will translate to returns for DAO members, though Orange Fund’s GPs will be contributing their carry in the fund to the Orange DAO’s internal treasury.