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Wiliot has raised $200M in Series C funding led by SoftBank Vision Fund 2 to accelerate its mission of creating a new IoT era where intelligence and connectivity are brought to trillions of products that move the global supply chains.
Wiliot, a provider of Sensing-as-a-service platform connecting digital and physical worlds using Internet of things (IoT), has raised $200 million in a Series C funding round led by SoftBank Vision Fund 2, with participation from previous backers, a press release from the company said.
Wiliot’s Series B funding was in Feb 2020, where it raised $20 million. With the close of Series C, its total funding raised to date has crossed $289 million, as per Crunchbase. Existing investors – 83North, Amazon Web Services, Inc. (AWS), Avery Dennison, Grove Ventures, M Ventures, the corporate VC of Merck KGaA, Darmstadt, Germany, Maersk Growth, Norwest Venture Partners, NTT DOCOMO Ventures, Qualcomm Ventures LLC, Samsung Venture Investment Corp., Vintage Investment Partners, and Verizon Ventures – participated in this round.
Wiliot, founded in 2017, aspires to add IoT to everyday products and provides a cloud-based platform built on IoT pixels, which are tiny low-cost, self-powered tags that attach to any product or packaging to sense a range of physical and environment data.
The pixels, fed into the Wiliot Cloud, translate machine learning (ML) algorithms into actionable insights for businesses across various industries. The cloud also ensures data protection. Tal Tamir, CEO OF Wiliot, expressed delight at being backed by SoftBank and stated that Wiliot had created a vision of Ai-enabled IoT in the future.
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 wasteTal Tamir, CEO OF Wiliot
Wiliot said that it would use the proceeds from the funding to grow its team and scale its channels for launching its V2 product, which is set to offer next-generation performance to accelerate its vision for new IoT.
Commenting on the investment, Yanni Pipilis, managing partner at SoftBank Investment Advisers, enunciated that Wiliot is well-positioned to bring the digital and physical world together by inventing a hyper-scalable and self-powered computer that leverages AI for sensing the world.
We have always believed that with IoT and AI, people will live better and healthier lives – where any food or medicine has the ability to understand if it’s safe to use and communicate seamlessly with people. We are pleased to play a part in helping Wiliot dramatically scale the ever-expanding application of IoT globally.Yanni Pipilis, managing partner at SoftBank Investment Advisers