Israeli Internet-of-Things startup Atomation has raised a $1 million financing round led by US venture capital firm JANVEST Capital Partners. Also participating in the investment were Moshe Hogeg's investment firm Singulariteam, a group of strategic Australian investors from the communications industry, and Vocus Communications deputy chairman Tony Grist. In 2014, Atomation raised $900,000 to focus on the multi-platform consumer toy market led by the Explore incubator, which is owned by Plus Ventures and 2B Angels, as well as private investors. Atomation develops technology that transforms all objects into ‘smart’ objects.
Atomation was founded in 2014 by CEO Guy Weitzman and CTO Eran Keshet. With the help of Atomation, it is now possible to bring IoT capabilities to every object. To do so, the company is building an ecosystem of ‘atoms’, that is, a hardware unit with Bluetooth 4 BLE connectivity. These “atoms” created by Atomation provides an object with advanced capabilities per the need of each specific developer. As a company grows, these “atoms” are able to be connected to create a network where objects can interact with each other in a variety of ways. Because these “atoms” are modular, they can be mounted on an array of different products to give those products new functionality. Atomation’s target audience includes mobile developers and manufacturers who can find uses for this new functionality.
The company recently signed agreements to implement its technology in agriculture, consumer electronics, and medical devices. Atomation’s vision is to connect as many objects in the physical world to the cloud using the company’s platform. In addition, the company has recently released a mobile SDK allowing for mobile developers to begin creating IoT-based applications.
Weitzman said, “The IoT revolution is here. While companies focus on developing Cloud platforms to connect with ‘smart’ objects, we are focusing on connecting physical objects that are not yet ‘smart’ with a Cloud service that can provide an array of analytics.”
Weitzman added that the company’s business model is based on an annual or monthly license for each product that is connected to Atomation’s Cloud service.
Published by Globes [online], Israel business news - www.globes-online.com - on January 28, 2016
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