WilIoT has decided to grow its team and scale its channels for its forthcoming next-generation products that will help accelerate its vision for a new IoT.
This includes building out and scaling Wiliot’s software-as-a-service platform, as well as creating new sensors and capabilities.
“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,” said Tal Tamir, Wiliot’s CEO. “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.”
“By inventing the first hyper-scalable, self-powered computer that uses AI to sense the world, Wiliot is positioned to bring together the digital and physical,” said Yanni Pipilis Managing Partner at SoftBank Investment Advisers. “We have always believed that with IoT and AI, people will live better and healthier lives – where any food or medicine can 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.”
The company also plans to integrate with a larger set of partners and invest in silicon production capacity to ensure supply during the worldwide shortage.
The company revealed its plans after receiving US$200 million in a Series C funding round led by SoftBank Vision Fund 2.
With Softbank’s Vision Fund 2 backing, Wiliot will accelerate its mission to create a new era of IoT where intelligence and connectivity are brought to trillions of products that move through global supply chains – from crates, packaging, and pallets to clothes, medicine, and perishable goods.
Wiliot has created a platform that is built on Wiliot IoT Pixels and the Wiliot Cloud. Wiliot IoT Pixels are tiny low-cost, self-powered tags that attach to any product or packaging to sense a range of physical and environmental data that is then fed into the Wiliot Cloud, where machine learning algorithms translate data into actionable insights for businesses across a range of industries. The Wiliot Cloud also ensures
Wiliot-enabled products and packaging can sense temperature, fill level, motion, location changes, humidity, and proximity. Wiliot IoT Pixels can be integrated into vaccine vials, food packaging, and more, bringing real-time transparency to the supply chain, and the ability for brands for the first time to understand inventory levels throughout their retail channels.