Wiliot, a fabless semiconductor start-up company, has closed an investment round with Qualcomm Ventures and M Ventures. The announcement was made in conjunction with the opening of the Active & Intelligent Packaging Industry Association (AIPIA) Conference in Amsterdam where the company will make its first public presentation to leaders in the packaging industry.
The latest investment round comes on the heels of a Series A Round financing effort that yielded $14m with forward-thinking strategic technology investors Grove Ventures, Norwest Venture Partners, and 83North Venture Capital. This first round closed in January, the month Wiliot was founded. In all, Wiliot has raised a total of $19 million in its first 10 months as a semiconductor company.
Wiliot, whose research and development arm is based in Israel, is on course to develop a wireless technology that will eliminate a reliance on batteries or wired power to vastly accelerate the Internet of Things with the vision of creating a world of “Smart Everything.” The new technology, which powers itself by harvesting energy from radio waves, enables a sensor as small as a fingernail, as thin as a sheet of paper, and an order of magnitude reduction in price and cost of maintenance.
With proof of concepts scheduled to start in 2H 2018, and a delivery to market date in early 2019, Wiliot’s technology will revolutionize the current Bluetooth beacon marketplace which after more than five years has reached a floor on reductions in cost, size and ease of maintenance that have hindered their widespread adoption.
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