Postscapes

Smart lock company LockState closes $5.8M Series A to fast track sales & partnerships

2018-05-26T05:00:00-07:00

Smart Lock Company LockState raised $5.8M Series A in new investment to fund its aggressive sales and marketing and partner development plan. The company previously raised $740K seed round and $1M in a round led by angel investors. The lead investor in latest round was Iron Gate Capital. Other investors include Kozo Keikaku Engineering Inc, Nelnet and Service Provider Capital.

Access Control Dashboard and WiFi Smart Locks

The company’s Wi-Fi-enabled RemoteLock is used by 1000s of Airbnb and other vacation rental hosts. It helps hosts remotely provide access to guests. Locking/unlocking codes can be generated via a host’s computer or smartphone.

RemoteLock’s prices start at $299 which is its algorithmic ResortLock. The most pricey lock by LockState is its ‘RemoteLock 7i Black WiFi Commercial Smart Lock’ which costs $479.

Another core product of LockState is its cloud-based remote access platform for internet-enabled locks. It implies users can remotely manage their (internet-enabled) locks via LockState’s cloud platform.

Unlike smartphones and watches, customers don’t look forward to upgrading their smart locks or buying one when new models are launched. Thus, smart lock companies offset this disadvantage by partnering with property management and short-term rental companies to get new customers.

LockState has partnered with vacation rental brands like Airbnb, HomeAway, and other listing partners to automate guest access.

“We are expanding our footprint and moving into a new warehouse office that is more than twice the size of our current office. We’re also staffing up our sales and marketing teams. We’ve accomplished a lot without investing heavily in marketing so we’ll support that area to keep our momentum going. We intend to expand into new business-to-business and enterprise verticals where we’re seeing the market grow. We are also dedicating budget toward development.” Nolan Mondrow, CEO of LockState in a statement released to news site Venture Beat

Igloohome a Singapore-based smart lock company also raised an investment of $4M in April this year.

Siemens to acquire smart lighting control company Enlighted Inc. for an undisclosed sum

2018-05-26T05:00:00-07:00

Siemens Building Technologies division announced it will acquire Enlighted Inc., a smart IoT building technology provider. The transaction is expected to close in Q3’18.

Enlighted Inc.’s core element is an advanced lighting control application. It is based on a patented, software-defined smart sensor that collects and monitors real-time occupancy, light levels, temperatures and energy usage.

The sensor can gauge temperature, light level, motion, energy, and has Bluetooth connectivity.

The Enlighted Micro Sensor

The Enlighted system works by collecting temperature, light and motion data via its smart sensors. A gateway device carries the information to Energy Manager, a secure browser-based interface to create profiles and adjust settings of the entire Enlighted Advanced Lighting Control System. The Energy manager operates as an analytics device.

The whole system consists of multi-function sensors, distributed computing, a network, and software applications run by Enlighted Inc.

“With Siemens as a global partner, we will both accelerate innovation and market adoption of our smart building technologies on an international scale.”Joe Costello, Chairman, and CEO of Enlighted Inc

Enlighted Inc.’s main target market is commercial real estate. Key use cases of its intelligent Lighting Control System are energy efficiency, controlling heating, ventilation and air conditioning, and building utilization reports.

Use the Postscapes 'Connected Products Framework' to understand the smart home and buildings eco-system.

Arduino adds two boards to its MKR family of products for new use cases

2018-05-26T05:00:00-07:00

Arduino’s MKR family of products got two new wireless connectivity boards added to its range of products. These include MKR WiFi 1010 and MKR NB 1500, both aimed at streamlining IoT product/service development.

Arduino MKR WiFi 1010

Arduino’s blog notes that “the Arduino MKR WiFi 1010 is the new version of the MKR1000 with ESP32 module on board made by U-BLOX.”

MKR WiFi 1010: For prototyping of WI-FI based IoT applications

The core difference of MKR WiFi 1010 compared to MKR WiFi 1000 is that the former can be put to use in production-grade IoT apps and it has ESP32-based module manufactured by u-blox. The former enables to add 2.4GHz WiFi and Bluetooth capability to the application. Additionally, it comes with a programmable dual-processor system (an ARM processor and a dual-core Espressif IC).

MKR NB 1500: For on-field monitoring systems and remote-controlled LTE-enabled modules

The Arduino MKR NB 1500 is based on new low-power NB-IoT (narrowband IoT) standard. This makes it appropriate for IoT apps running over cellular/LTE networks.

Arduino MKR NB 1500

Key use cases of this board are remote monitoring systems and remote-controlled LTE-enabled modules. It supports AT&T, T-Mobile USA, Telstra, Verizon over the Cat M1/NB1 deployed bands 2, 3, 4, 5, 8, 12, 13, 20 and 28.

Arduino also pitches this board to be used in IoT apps which used to rely on alternative IoT networks such as LoRa and Sigfox. It promises to save power compared to GSM or 3G cellular-based connections.

“The new boards bring new communication options to satisfy the needs of the most demanding use cases, giving users one of the widest range of options on the market of certified products.” Arduino co-founder and CTO Massimo Banzi

Microsoft buys conversational AI company Semantic Machines for an undisclosed sum

2018-05-24T05:00:00-07:00

Microsoft announced it has acquired Semantic Machines, a conversational AI startup providing chatbots and AI chat apps founded in 2014 having $20.9 million in funding from investors. The acquisition will help Microsoft catch up with Amazon Alexa, though the latter is more focused on enabling consumer applications of conversational AI.

Microsoft will use Semantic Machine’s acquisition to establish a conversational AI center of excellence in Berkeley to help it innovate in natural language interfaces.

Microsoft has been stepping up its products in conversational AI. It launched the digital assistant Cortana in 2015, as well as social chatbots like XiaoIce. The latest acquisition can help Microsoft beef up its ‘enterprise AI’ offerings.

As the use of NLP (natural language processing) increases in IoT products and services, more startups are getting traction from investors and established players. In June last year, Josh.ai, avoice-controlled home automation software has raised $8M.

Followed by it was SparkCognition that raised $32.5M Series B for its NLP-based threat intelligence platform.

It appears Microsoft’s acquisition of Semantic Machines was motivated by the latter’s strong AI team. The team includes technology entrepreneur Daniel Roth who sold his previous startups Voice Signal Technologies and Shaser BioScience for $300M and $100M respectively. Other team members include Stanford AI Professor Percy Liang, developer of Google Assistant Core AI technology and former Apple chief speech scientist Larry Gillick.

“Combining Semantic Machines' technology with Microsoft's own AI advances, we aim to deliver powerful, natural and more productive user experiences that will take conversational computing to a new level." David Ku, chief technology officer of Microsoft AI & Research.

Smart baby monitor Nanit closes $14M Series B investment

2018-05-24T05:00:00-07:00

Smart baby monitor company Nanit raised a $14M Series B round led by Jerusalem Venture Partners (JVP). Other investors that participated include existing investors Upfront Ventures, RRE Ventures, Vulcan Capital and Vaal Investment Partners. The latest investment brings total equity funding of Nanit to $30M.

Nanit Camera

Nanit announced it will use the funding proceeds to expand its team of computer vision and machine learning engineers and grow its sales in Europe and Canada.

Nanit’s baby monitor helps new parents oversee nursery conditions as it has built-in temperature and humidity sensors. The camera lets parents remotely monitor baby’s crib whereas sound and motion are detected via smart sensors.

Nanit's mobile app

The monitor’s insights can be accessed via an accompanying mobile app. Nanit charges $10 per month for its premium package.

The key use cases of Nanit’s baby monitoring technology include sleep insights, behavioral analysis, expert guidance, and nightly video summaries. The company currently sells its smart monitors via its website.

Amber Solutions raises $3.3M Series A to fast track sales of its smart electrical products

2018-05-22T05:00:00-07:00

Amber Solutions, an IoT product company that sells smart outlets, switches and circuit breakers closed Series A Preferred Stock round of financing that equals $3.3M in gross proceeds. Amber will use the funds to support the commercial development of Amber's core technologies.

One of Amber’s product is solid-state circuit interrupter (GFCI) that basically stops harmful levels of electricity from passing through a person. It operates as a safety device alerting the homeowner of electrocution incidents in real time.

"We are pleased that our investors are embracing Amber's vision of bringing superior IoT intelligence and connectivity to a highly strategic area--the single gang box locations within the standard electrical infrastructure in homes and buildings," said Amber Solutions CEO Thar Casey.

"Amber's smart outlets and switches strategically aggregate IoT sensors and functions within a structure's single gang box locations. This means a more discreet and yet wider array of IoT sensing and control in every room than is typical today,"Casey further added.

Amber Solutions’ core markets are builders that prepare smart home/smart building ready infrastructure, certified electrical contractors or remodelers, and electrical manufacturers.

Amber products

Other latest funding news include Owlet’s $24M Series B, Axonize’s $6M Series A round and addition of Deutsche Telekom as its strategic investor, and $30M Series B raised by Palo Alto-based Armis.

Vesper closes $23M Series B for its sensor-based microphone: Amazon Alexa Fund among investors

2018-05-21T05:00:00-07:00

Vesper, the maker of piezoelectric sensors used in microphone production and winner of CES Innovation Award 2018 raised a $23M Series B round. American Family Ventures led the investment with participation from Accomplice, Amazon Alexa Fund, Baidu, Bose Ventures, Hyperplane, Sands Capital, Shure, Synaptics, ZZ Capital and some undisclosed investors.

Vesper VM1000

Vesper’s innovative sensors can be used in consumer electronics like TV remote controls, smart speakers, smartphones, intelligent sensor nodes, and hearables. The company will use the funding proceeds to scale-up its functions like mass production of its microphones and support expanded research and development, hiring, and establishing international sales offices.

The main product of Vesper is VM1000, a low noise, high range,single-ended analog output piezoelectric MEMS microphone. It consists of a piezoelectric sensor and circuitry to buffer and amplify the output.

Vesper VM1010

The hot-selling product of Vesper is VM1010 with ZeroPower Listening which is the first MEMS microphone that enables voice activation to battery-powered consumer devices.

The unique selling point of Vesper’s products is they are built to operate in rugged environments that have dust and moisture.

"Vesper's ZeroPower Listening capabilities coupled with its ability to withstand water, dust, oil, and particulate contaminants enables users that have never before been possible," said Katelyn Johnson, principal of American Family Ventures. "We are excited about Vesper's quest to transform our connected world, including IoT devices."

Other recent funding news include $24 raised by sensor-based baby sock maker Owlet, IFTTT banks $24M from Salesforce to scale its IoT Enterprise offering, and Intel sells its Wind River Software to TPG.

Sensor-based baby sock Owlet banks $24M Series B

2018-05-14T05:00:00-07:00

Owlet, a connected-baby care company raised a $24 million Series B investment from Trilogy Equity Partners, with participation from existing investors, including Eclipse Ventures, Broadway Angels, and Enfield Ventures, and the addition Pelion Venture Partners.

Owlet Android App

Owlet’s core product is a baby sock that contains a smart sensor. The sensor monitors pulse oximetry, a technology used in hospitals to measure an infant's heart rate and blood oxygen levels. The vital signs are communicated to parents’ smartphone via Bluetooth connection. The product retails for $299 and parents can also choose from monthly payment plans.

Other IoT-health startups using sensors to monitor vital signs include Aifloo, a company selling wrist-bands for elders and Air by Propeller, a smart health company that provides an API to predict local asthma conditions.

Owlet Smart Sock 2

A complete product package of Owlet monitor includes three fabric socks, smart sock sensor, a base station (which rings an alarm if a baby’s vital signs are abnormal), and charging cords.

Before the company raised the latest round, it closed a $15 million Series B round in late 2016. The recent investment brought Owlet’s total equity funding to $46M. Owlet plans to use the growth capital to launch more baby care products.

“As a company of parents, it is important to us to bring innovative technology into a family’s everyday life. This new round of funding will enable us to expand our product line, looking at ways we can support the health and wellness of families at all stages, from pregnancy on, as well as increase the brand’s availability internationally and improve our accessibility and affordability,”said Kurt Workman, Owlet Co-Founder and CEO.

Salesforce and other tech giants invest $24M in IFTTT to help it expand in enterprise IoT

2018-05-09T05:00:00-07:00

IFTTT (If This Than That), a web-based software that automates and connects over 600 online services/software raised a $24M Series C led by Salesforce. Other investors include IBM and the Chamberlain Group and Fenox Venture Capital.

New apps and devices that made their way to IFTTT

The latest round brings IFTTT’s funding to $63M and it will use the funding proceeds to provide integration for enterprise and IoT services and hiring. In IFTTT’s platform, applets are code/script users need to deploy to integrate two or more services (such Google Drive’s integration with Twitter/Facebook).

“IFTTT is at the forefront of establishing a more connected ecosystem for devices and services. They see IFTTT as an important business, ecosystem, and partner in the industry,” said CEO Linden Tibbets.

Investment in IFTTT reveals that Salesforce is consolidating its presence in enterprise IoT space. It also acquired Mulesoft, an integration platform that rivals Microsoft’s BizTalk.

IBM’s investment in IFTTT is also noteworthy as the former is pushing its IBM Watson IoT platform. The following statement also shows its keen interest in IFTTT.

“IBM and IFTTT are working together to realize the potential of today’s connected world. By bringing together IBM’s Watson IoT Platform and Watson Assistant Solutions with consumer- facing services, we can help clients to create powerful and open solutions for their users that work with everything in the Internet of Things,” said Bret Greenstein, VP, Watson Internet of Things, IBM.

Other recent investments in IoT companies include $30M Series B of Armis and Myriota's $15M for its IoT satellite-based connectivity platform.

For latest IoT funding and product news, please visit our IoT news section.

Intel to spin-off and sell Wind River Software to TPG

2018-05-09T05:00:00-07:00

Wind River, an IoT and industrial operating system owned by Intel will be acquired by TPG, global alternative asset firm. Terms of the deal were not disclosed. Intel had bought Wind River Systems for $884 million in 2009

Wind River operates in several markets, including aerospace and defense, automotive, industrial, medical and networking technologies. Its core products in these markets are operating systems, software infrastructure platforms, device management, and simulation software. The IoT practice of Wind River provides consulting services for customers building IoT applications.

In a statement for Wind River, Nehal Raj, Partner and Head of Technology investing at TPG said “We see a tremendous market opportunity in industrial software driven by the convergence of the Internet of Things (IoT), intelligent devices and edge computing. As a market leader with a strong product portfolio, Wind River is well positioned to benefit from these trends. We are excited about the prospects for Wind River as an independent company, and plan to build on its strong foundation with investments in both organic and inorganic growth.”

Wind River’s main IoT product is Helix Device Cloud, a cloud-offering capable of managing deployed IoT devices and industrial equipment across a machine’s lifecycle. Helix can connect and manage devices remotely.

Helix platform’s key uses cases are gateway management, proactive maintenance, security updates, and device provisioning.