Wiliot, a company providing ‘Sensing as a Service’ and IoT technology, has received $200m in a Series C funding round led by SoftBank Vision Fund 2.
Israel-headquartered Wiliot has created a platform built on Wiliot IoT Pixels and the Wiliot Cloud. The company, which has its business operations & applications engineering office in Dan Diego, California, has developed Wiliot 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 that is then fed into the Wiliot Cloud. Here, machine learning algorithms translate data into so-called ‘actionable insights’ for businesses in different industries. The Wiliot Cloud is claimed also to ensure data remains secure, private, and authentic.
“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 has the ability to understand if it’s safe to use and communicate seamlessly with people.”
According to Wiliot, there has long been a gap as products travel without any data being available as to their status, whereabouts, or situation. Lacking this information, Wiliot believe global supply chains have ‘been profoundly, and vulnerably, in the dark.’ Recognising this, people within consumer-packaged goods, pharmaceuticals, furniture, and apparel have been working with Wiliot to add their sensing capabilities, intelligence and connectivity to their products that were previously off-line during their manufacture, shipping and consumption.
Wiliot-enabled products and packaging can sense temperature, fill level, motion, location changes, humidity, and proximity. Wiliot IoT Pixels are claimed to bring real-time transparency to the supply chain, and the ability for brands to understand inventory levels throughout their retail channels.
This omniscient view of the supply chain built on people’s usage allows a new paradigm called Demand Chain, which promises to reduce the required capital that is non-productively tied up in inventories. Products will be able to self-reorder based on usage, accelerating the adoption of the “subscription economy” as brands transform their business models.
“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.”
Wiliot said it will use the new funding to expand its team and scale its channels for the forthcoming launch of its V2 product, which offers next-generation performance that will help accelerate its vision for a new IoT.