I think the market for iBeacon is gargantuan, and Estimote demonstrates the venture world agrees.

John Biggs, iBeacon Pioneers Estimote Raise $3.1M Seed Round

Jakub Krzych, founder of Estimote, has announced a $3.1 million seed round raise from Innovation Endeavors, Betaworks, Bessemer Venture Partners, Birchmere Ventures, Valiant Capital Partners and others. The company is already shipping its small Bluetooth products, called Beacons, to retailers and they expect a huge rush in orders as they line up large clients next year.

In related news, Steve Chaney (formerly of GroupMe) is joining as SVP of Business Operations, and building a NY office for the company. I’ll have to sit down with him for an interview, soon.

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