Retail analytics solutions provider Walkbase recently announced that it has raised EUR3 million in funding. The funding round was lead London-based investment firm SBT Venture Capital and Nokia's former chief executive officer Olli-Pekka Kallasvuo.

Accoring to ArticStartup, Walkbase said that the funds will be used to strengthen its sales and marketing. It will also be used for the company's expansion in Europe, the Middle East and Africa.

Walkbase was created in 2010 and is currently headquartered in Finland. It has raised a funding total of USD3.86 million in less than a year, based on a profile by CrunchBase.

Meanwhile, SBT Venture Capital manages a fin-tech fund and invests it in promising startup companies. Aside from Walkbase, the venture capital firm has also invested USD12 million in software company Sequent.

SBT Venture Capital's prinicipal investor is Sberbank, which is the largest bank in Russia and Eastern Europe, said the Financial Times. Based on its latest financial report, Sberbank has USD486.9 billion total assets under management.

Sberbank has 18,000 retail branches in which Walkbase's technology will be integrated to track customer behavior, the ArticStartup said.