Israeli AI device defect detection company Veego has completed its $5 million seed funding with the addition of Robert Bosch Venture Capital GmbH (RBVC), the venture arm of the Bosch Group. RBVC joins State of Mind Ventures (SOMV) and North First Ventures (N1V) to enable Veego to deliver innovative products to the rapidly growing connected-home industry.
Based in Ramat Gan, the company has developed artificial intelligence technology for eliminating malfunctions in the connected home. Veego was founded by CEO Amir Kotler, VP product and R&D Reffael Caspi and CTO Denis Sirov.
Kotler said, “We welcome our newest strategic partner, RBVC, who, along with our original investors, SOMV and N1V, endow us with the financial and strategic backing and trust to create a major disruption in the support of the complex IoT ecosystem in millions of connected homes."
RBVC Managing Director, Dr. Ingo Ramesohl, said, “We see the market for IoT support in the connected home growing considerably over the next several years. Veego is producing innovative AI technology that can be a game-changer for customer service and IoT device manufacturers.”
Veego's AI technology deploys on smart hubs, routers and IoT devices, automatically detecting, analyzing and repairing connected-home device and system problems before customers even notice them.
Published by Globes, Israel business news - en.globes.co.il - on May 21, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019