Israeli IoT chip company Wiliot has raised $20 million in a financing round led by Vintage Investment Partners and with the participation of Verizon Ventures, Maersk Growth, PepsiCo and NTT DOCOMO Venture. These investors join previous Wiliot investors including: 83North, Amazon Web Services (AWS) Investment Arm, Avery Dennison, Grove Ventures, M Ventures, Norwest Venture Partners, Qualcomm Ventures LLC and Samsung Venture Investment Corp. Wiliot has raised $70 million to date.
The new funds will provide the resources for Wiliot to support its customers’ pilot projects and the growing development of Wiliot’s Cloud components.
The company is developing miniature chips for battery-free Bluetooth technology for use in Internet-of-Things applications. Founded in 2015 by CEO Tal Tamir, Yaron Alboim and Alon Yehezkely, the company is based in Caesarea with offices in Tel Aviv, San Diego and Germany.
Tamir said, "We have come a long way in the last year. Twelve months ago, conditions had to be perfect for the very first tags to work. Now we demonstrate Wiliot tags on bottles of wine, boxes of pizza and on envelopes. We are understanding how these tiny sensors embedded into products and packaging can change the way things are made, distributed, sold, used and recycled. By having a multiprocessor compute engine that powers itself, we have the security and flexibility to bring sensing and connectivity to things that previously couldn’t be connected to the Internet of Things. Privacy is key if you are to connect products to the internet and nothing short of a system of this kind can make sure only the right people can see this information."
Published by Globes, Israel business news - en.globes.co.il - on February 18, 2020
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