Vancouver based startup RealWear has raised $ 13.5M (17M CAD) and seeks another $ 3M, reveals the startup’s SEC filings. The company plans to use $ 20 million investment to get its product, head-worn computers called HMT-1, into the hands of more companies.
Founded in Silicon Valley, RealWear was headquartered in Milpitas, California and shifted to Vancouver in last summer with its presence in Shanghai, China. According to Silicon Forest standards, an early stage round of $ 20 million is a huge amount of investment.
RealWear’s product HMT-1 is a hand free wearable computer that connects industrial workers in the field and helps industrial companies implement the ‘Connected Worker’ program. It’s OS is an Android 6.0.1 (AOSP) and runs on the Qualcomm Snapdragon 2.0 GHz 8-core chipset. It supports Bluetooth, WiFi and GPS. The wearable devices come packed with microphones, speakers, cameras, and additional ports.
Andy Lowery, CEO of RealWear stated that the company has pilot projects in the pipeline with large enterprises like Tesla, WalMart, Amazon, and Boeing. One of the investors is another Vancouver based company, Columbia Ventures which has invested $ 8M in the startup.
SAM, a home network cyber defense company has raised $ 3.5 million in a seed funding round. The funding was led by Blumberg Capital, a global early-stage venture capital firm, based in SF, California. SAM provides a platform that can integrate with routers, providing homeowners with an easy-to-use and secure home network.
The Tel Aviv based company has been working under stealth mode, in partnership with Israel’s largest telecom provider, Bezeq Israeli Telecom. SAM’s advisory team includes former leaders of Israel’s elite intelligence unit 8200 and founders of Team8, a cybersecurity think tank.
Led by Sivan Rauscher, Co-Founder, and CEO, SAM offers advanced features such as device fingerprinting, parental control, router protection and anomaly detection for home networks. Additionally, the company offers high-performance security in collaboration with Intel’s Connected Home Division by integrating its technology with Intel’s chipsets.
A number of high-profile data breach cases were reported in 2017. Cyber-attack victims included large enterprises such as eBay, Yahoo, Target and Home Depot, along with many health and financial institutions, media and government websites. Israel is one of the largest markets in the world to provide cybersecurity products to over 200 Israeli companies specializing in cyber defense, accounting for $ 3B worth of anti-hacking exports in 2013. About one-fourth of world venture capital-funded cyber-security startups are Israel based.
Another IoT and connected home security startup VDOO raised $ 13M in January this year. VDOO’s solution also profiles a connected device’s manufacturer, device type, network interface, OS, and software vendor.
Mnubo, an IoT data analytics and artificial intelligence (AI) provider, has raised $ 16.5 million in a series B financing round to speed up the global expansion of its SmartObjects IoT analytics and data science solution.
Throughout the world, SmartObjects aims to helping service providers and equipment manufacturers in furthering their data monetisation strategy. Johnson-Controls Hitachi is among the prominent manufacturers who are using SmartObjects.
Greg Barats, president and CEO of HSB Group, a Munich Re arm that led the financing round and also a strategic commercial partner of Mnubo, said: “We’re thrilled about this strategic partnership with Mnubo to bring to market a suite of financial and insurance related products based on artificial intelligence and machine Learning on IoT equipment datasets. HSB can help Mnubo’s customers realize meaningful results from their IoT investments."
Frederic Bastien, president and CEO of Mnubo, said: “We are spearheading the transformation of the IoT landscape by enabling a data-driven versus a connectivity-driven business model. Companies must focus on business outcomes through IoT insights in order to stand-out in a crowded and confusing market. HSB has 150 years of experience in insuring commercial and industrial equipment; this alliance with Mnubo enables the next-generation of IoT manufacturers and enterprises to benefit from a portfolio of IoT-based, data-driven financial products to accelerate RoI by enabling IoT data monetisation.”
In another funding raising story, cybersecurity enterprise VDOO has secured $ 13 million to formulate and commercialise its IoT security platform. According to VDOO, its first-of-its-kind IoT platform can provide security certification for a wide array of connected devices via an automated, end-to-end process that analyses the devices, gives the most accurate security requirements and implements guidance based on that analysis.
Shoof Technologies, a startup providing wireless technology for the Industrial IoT raised $ 4.5M in seed funding. Kleiner Perkins and Modiva Japan led the round.
Shoof’s manufacturing and logistics customers will be able to use the solution for indoor and outdoor asset monitoring and tracking in early 2018. Shoof Tech’s solution consists of a cloud platform and equipment – including base stations and tags. With the current funding, Shoof plans to focus on manufacturing and transportation sector.
The startup’s primary focus in tracking indoor assets as the current wireless technologies such as GPS and cellular connectivity put a lot of strain on sensor battery. The batteries die out in a few hours making the solution inadequate to withstand the ruggedness of industrial settings. This is where Shoof Tech’s solution can fill the gap and provide round the clock industrial-grade internet connectivity to expensive assets.
“We are excited to partner with such reputable firms who share our vision of empowering the supply chain and logistics industries with efficient asset-monitoring and tracking connectivity technologies,” said Ra’ed Elmurib, CEO, Shoof Technologies. The startup operates on a ‘subscription-based’ business model whereby its customers incur a monthly recurring fee hence saving the latter from significant infrastructure set-up costs that any industrial-grade IoT solution requires.
Another asset intelligence startup Alchemy IoT recently raised $ 4M in seed investment.
C3 IoT, an AI and IoT software platform for digital transformation last week raised $ 100M in new funding. The company, formerly known as C3 Energy, previously raised $ 70M in Sep 2016 followed by a Series E round in Feb, 2017 that valued the company at $ 1.4B. Its total funding has reached $ 223 million since it was launched in 2009.
C3 IoT’s latest investment came from the founder Tom Siebel and Pat House, Tom’s co-founder at Siebel Systems. Existing backers TPG Growth, Breyer Capital and Sutter Hill Ventures also participated in the round.
C3 IoT’s core product is a platform as a service (PaaS) for rapidly developing and operating big data, predictive analytics, AI/machine learning, and IoT software as a service (SaaS) and apps. The company also offers configurable and extensible applications on top of its platform.
Some of the core applications C3 IoT has built on its PaaS include apps for predictive maintenance, energy management, sensor health management, and fraud detection.