Estimote was one of the hot new companies to come out of the latest batch of Y Combinator, the famous Silicon Valley incubator.
Here you see its new product, Estimote Beacons, which is a small, wireless device, sometimes also called a 'mote.' When placed in a physical space, it broadcasts tiny radio signals around itself.
Think about it as a very small lighthouse. Smartphones that are in range are able to 'hear' these signals and estimate their location very precisely, as well as communicate with the beacon to exchange data and information.
Here you hear cofounder/CEO Jakub Krzych.
This company is hugely important for the contextual future that's coming quickly.