Israeli Internet of Things (IoT) startup Neura has raised $11 million in a Series A financing round. The investment was led by AXA Strategic Partners and Pitango Venture Capital, with participation from Liberty Israel Venture Fund and Lenovo Group. Neura is headquartered in Silicon Valley and has its development center in Herzliya Pituach. The proceeds will be used to expand its business operations.
Neura’s technology can be utilized to enable smarter healthcare, cars, music services, homes and much more. The service lets people get to an unprecedented level of technology personalization, by computing a constantly updating portrait of user behaviour patterns. Simply put, Neura enriches apps and devices with insights about users’ past and present actions, as well as calculated predictions about the next thing they’re going to do.
Neura's technology is designed to enhance the ability of smart products that surround us in our daily lives and are connected to the Internet to communicate with each other: wearable monitors to measure the number of steps we take each day, cars, smart home services and technologies including air-conditioners, music centers, security cameras. For example, if the user goes out for a run, the system identifies precisely where the user is located, whether in a park or fitness club. The system knows what music to play the user from its playlist and when the user comes home, the smart air-conditioner will start cooling the house automatically because it knows the user has finished running and has worked uo a sweat.
Neura CEO Gilad Meiri said, "Currently data only serves the interest of major corporations.The actual generators of data, the users, have no say in what impact this data has on their life. Customer data is bought and sold on the common market and the lack of transparency in the current system is troubling. We have built our platform on a foundation of transparency and a commitment to making personal data work for the sake of users. We are building the engine that can make smart technology smarter without sacrificing the trust of our users."
Published by Globes [online], Israel business news - www.globes-online.com - on January 18, 2016
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