IoT Pioneer Wiliot Secures $200 Million Investment Round Led by SoftBank Vision Fund 2
Anurag Khadkikar | July 28, 2021
Wiliot, a Sensing as a Service and Internet of Things (IoT) technology pioneer whose self-powered, the stamp-sized computer is redefining the connection between manufacturers and their goods, said today that it had secured $200 million in a Series C financing round led by SoftBank Vision Fund 2.
Wiliot has developed a platform 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 various physical and environmental data, which is then fed into the Wiliot Cloud, where machine learning algorithms translate data into actionable insights for businesses in a variety of industries. In addition, the Wiliot Cloud guarantees that data is safe, private, and authentic.
For decades, there has been a huge gap as trillions of products traverse billions of kilometers with no data about their status, whereabouts, or predicament. Global supply networks have been deeply and vulnerably in the dark in the lack of this information. Recognizing this, several companies in consumer packaged goods, pharmaceuticals, furniture, and clothing have been collaborating with Wiliot to enhance their sensing, intelligence, and connectivity capabilities.
Goods that were previously offline throughout their manufacturing, shipping, and consuming journeys are now online, a reality that is altering the way products are manufactured, distributed, sold, used, reused, and recycled.
Temperature, fill level, motion, position changes, humidity, and proximity may all be sensed by Wiliot-enabled goods and packaging. As a result, Wiliot IoT Pixels may be incorporated into vaccine vials, food packaging, and other products, providing real-time transparency to the supply chain and allowing businesses to monitor inventory levels throughout their retail channels for the first time. Through a highly secure, privacy-protected platform, they can even learn how their goods are used in customers' homes.
This omniscient view of the supply chain based on people's use enables a new paradigm known as Demand Chain, which promises to reduce the needed capital that is now idled in inventories. In addition, products will be able to reorder themselves based on usage, hastening the adoption of the "subscription economy" as brands change their business models.
Consumers will benefit from greater convenience, fresher, safer food, less waste, reduced medical expenses, and a lower environmental impact due to all of this.
Wiliot will utilize the current amount of funding to expand its team and extend its channels in preparation for the upcoming introduction of its V2 product, which provides next-generation performance and will assist accelerate its vision for a new IoT.
Wiliot is a Sensing as a Service company whose cloud platform links the digital and physical worlds through IoT Pixel tagging technology, which uses computers the size of a postage stamp to power themselves in new ways. Our vision is to broaden the Internet of Things to include everyday products by integrating intelligence into plastic crates, pharmaceuticals, packaging, clothing, and other products, connecting them to the internet, and changing the way things are made, distributed, sold, used, reused, and recycled.