SoftBank Backs IoT Sticker for Supply Chain Tracking
Wiliot's IoT Pixels are tiny, self-powered tags that attach to products, providing physical and environmental data during each portion of the delivery chain.
Wiliot, the Sensing as a Service and Internet of Things (IoT) technology company has raised $200 million in a Series C funding round led by SoftBank Vision Fund.
Wiliot’s IoT Pixels are tiny, 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 company says that “for decades, there has remained a massive gap as trillions of products travel billions of miles without any data being available as to their status, whereabouts, or situation. Lacking this information, global supply chains have been profoundly, and vulnerably, in the dark”. Instead, Wiliot-enabled products and packaging can sense temperature, fill level, motion, location changes, humidity, and proximity.
“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”.
The Pixels can be applied to vaccine vials, food packaging, and more, letting product owners see and understand inventory levels throughout their retail channels. They can even understand how their products are used in customers’ homes through a “highly secure, privacy-protected platform”.
Wiliot states that its platform, built on people’s usage, could allow a new idea called Demand Chain, where products will be able to self-reorder based on usage, accelerating the adoption of the “subscription economy” as brands transform their business models. This, it says, will provide consumers with increased convenience, fresher, safer food, less waste, lower medical costs and a lower environmental impact.
“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. We are pleased to play a part in helping Wiliot dramatically scale the ever-expanding application of IoT globally”.
SoftBank joins existing investors that include 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. As part of the investment, Amit Lubovsky, Investor for SoftBank Investment Advisers, will join Wiliot’s Board of Directors.
Wiliot will use the latest round of capital to grow its team and scale its channels for the forthcoming launch of its V2 product.
You can find more information about Wiliot and its $200 million funding round led by SoftBank on its website.
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