The financing will support Wiliot’s plan to bring intelligence and connectivity to trillions of products across global supply chains ranging from packaging to perishable goods
Wiliot, the Sensing as a Service company and Internet of Things (IoT) technology provider, has secured $200m in Series C funding to boost its efforts for the creation of a new era of IoT.
The financing will support Wiliot’s plan to bring intelligence and connectivity to trillions of products across global supply chains ranging from crates, packaging, and pallets to clothes, medicine and perishable goods.
The proceeds from the latest round will be used by the company to expand its team and scale its channels to support the forthcoming launch of its V2 product, which provides next-generation performance to boost the company’s vision for a new IoT.
Led by SoftBank Vision Fund 2, the financing round witnessed participation from existing investors such as 83North, Amazon Web Services, Avery Dennison, Grove Ventures, M Ventures, the corporate VC of Merck, Maersk Growth, Norwest Venture Partners, NTT DOCOMO Ventures, Qualcomm Ventures, Samsung Venture Investment, Vintage Investment Partners and Verizon Ventures.
The company has developed a platform, which is based on Wiliot IoT Pixels and the Wiliot Cloud.
Wiliot IoT Pixels are tiny low-cost and self-powered tags, which can be attached to any product or packaging to sense a range of physical and environmental data.
Later, the data will be transferred to Wiliot Cloud, where machine learning algorithms transform data into actionable insights for businesses across a range of industries.
Wiliot-enabled products and packaging hold the potential to sense temperature, fill level, motion, location changes, humidity and proximity.
Wiliot IoT Pixels are said to be the first postage stamp-sized computers to receive Bluetooth qualification and FCC certification.
Wiliot IoT Pixels can be incorporated into vaccine vials and food packaging to provide real-time transparency to the supply chain. It will also help brands to better understand inventory levels across their retail channels.
In addition, the platform will allow brands to understand how their products are used in customers’ homes via a secured and privacy-protected platform.
Wiliot CEO Tal Tamir said: “Wiliot has created a vision of the future of AI-enabled IoT, and we are delighted that SoftBank is supporting us in making this future a reality.
“IoT is a vision created around Things and our mission at Wiliot is to use cutting edge hardware, AI-based sensing and an innovative business model to implement a safer and more transparent world, a world in which all the things around us help consumers use them better and suppliers avoid waste.”