Augmented reality co Pixie Technology raises $18.5m

Startups Photo: Shutterstock
Startups Photo: Shutterstock

Designed, the Israeli company combines augmented reality navigation with innovative signaling technology to help people find their everyday items.

Israeli augmented reality startup Pixie Technology Inc. has closed a Series B financing round of $18.5 million. The investment was led by Spark Capital with the participation of Cedar Fund, OurCrowd and private investors. This round brings the total funds raised by Pixie to date to $24 million, having raised $5.5 million in 2013.

Headquartered in Los Altos, California and with its development office in Israel, Pixie Technology has pioneered the emerging Location of Things sector with its location solution.

Designed to help people easily track and find their favorite everyday items, Pixie Technology combines augmented reality navigation with innovative signaling technology. The company began shipping Pixie Points, its first product, to pre-order customers last year and will use this latest investment to launch new advanced product capabilities and scale production to bring Pixie to even more customers. It is also investing in further expanding its Location of Things platform and ecosystem and has opened its Software Development Kit to allow developers and third parties to create new applications, building its signaling technologies into other products, devices and services.

Pixie Technology co-founder and CEO Amir Bassan-Eskenazi said, "The new funds will simultaneously allow us to enhance and expand our consumer proposition, while also developing our pioneering Location of Things platform that leverages the power of mesh networks. We will soon be in a world where everything around us can be given a digital identity, and Pixie looks forward to delivering a future where lost and misplaced items are a thing of the past."

"Pixie has created a new category of product that gives location-aware digital presence to physical devices. Location is what has been missing in IoT. Pixie is an attractive platform for a set of new and interesting applications," said Santo Politi, General Partner & co-founder of Spark Capital. "The company has the technology advantage and business model to appeal to consumers and work with partners. We are excited to support the Pixie team as they build their company."

Published by Globes [online], Israel business news - - on July 20, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Startups Photo: Shutterstock
Startups Photo: Shutterstock
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