CPE News (11/8/2018) – Aerial Technologies has raised US $3 million in additional seed funding led by Intel Capital with participation of existing investors, Fonds Innovexport, Kibo Ventures, and Telefónica Open Innovation.
Aerial intends to use new funding to accelerate the addition of new functionalities requested by the market and to further advance Aerial’s IP portfolio. Aerial is actively recruiting new talents for its Engineering, R&D, and Operations teams based in Montreal. Aerial is also hiring in sales and customer support to expand its global reach.
Aerial Technologies was incubated and launched in 2016 by TandemLaunch. In July 2017, Aerial Technologies closed a CDN $2.25 million round of convertible note financing led by Madrid, Spain based Kibo Ventures with participation of Jean-François Grenon.
In March 2018, Aerial Technologies announced the closing of a US $1.94 million seed round led by an undisclosed chipset manufacturer.
photo credit: Aerial Technologies
Aerial Technologies Raises $3M US Additional Funding Led by Intel Capital to Boost Functionality Offering and Patent Portfolio
Aerial Technologies uses artificial intelligence to analyze disruptions in WiFi networks, extract data, and ultimately give meaning to motion, without requiring additional hardware, wearables or cameras.
Montreal, November 8, 2018 (GlobeNewswire) – Aerial Technologies, the pioneer in wireless motion analytics powered by AI, today announced $3 million US additional capital investment led by Intel Capital, with follow-on investments from Fonds Innovexport, Kibo Ventures, and Telefónica Open Innovation. The growing list of both strategic investors and venture capital companies illustrates Aerial’s momentum in the smart home, security, home care/healthcare, energy management, and hospitality industries.
This capital will be used to accelerate the addition of new functionalities requested by the market and to further advance Aerial’s IP portfolio. Aerial is actively recruiting new talents for its Engineering, R&D, and Operations teams based in Montreal, one of Canada’s hubs for artificial intelligence research and development. Aerial is also hiring in sales and customer support to expand its global reach.
“I am both excited and delighted that Intel Capital has become a strategic investor in Aerial. We are looking forward to work closely with Intel and our existing investors on our quest to enable Aerial smart motion everywhere there is WiFi,” says David Grant, Aerial’s CEO.
“Applications for artificial intelligence continue to accelerate innovation across industries, including the field of wireless communications,” said David P. Ryan, General manager of Health & Life Sciences Sector, Internet of Things at Intel. “AI can discover deeper insights from data and the versatile capability of Aerial’s wireless technology is well positioned to drive intelligence at the IoT edge.”
About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.3 billion in 1,544 companies worldwide, and more than 660 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
About Fonds Innovexport
Fonds Innovexport is an early-stage venture capital firm that supports the development of Quebec-based innovators seeking growth in international markets. Based in Quebec City, Innovexport is partnering with twenty-five experienced entrepreneurs, as well as the Government of Quebec represented by Investissement Québec, the Fonds Espace CDPQ de la Caisse de dépôt et placement du Québec, Desjardins – Innovatech, the Fonds de solidarité FTQ, and Fondaction CSN. They all work together to support the establishment of innovative companies with the potential of becoming global leaders.
About Kibo Ventures
Kibo Ventures, based in Madrid, Spain, is a VC Fund focused on early-stage investments in digital companies. Kibo Ventures invests in teams with global ambition, unique technologies and scalable business models. Kibo Ventures manages $130 million from a mix of institutional and private investors, including IEF, Telefonica, the Spanish Government (through CDTI), Mutua Madrileña, FondICO and CaixaBank. Kibo Ventures has invested in over 50 companies in Europe, the Americas and Spain, including Flywire, Carto, Job and Talent, and WorldSensing, and has co-invested with many of the largest US and European VC Funds. www.kiboventures.com
About Telefónica Open Innovation
Telefónica Open Innovation is Telefonica’s global area designed to connect entrepreneurs, startups, investors and public and private partners around the world to capture innovation and business opportunities. The programme incorporates all of Telefónica Group’s open innovation, entrepreneurship and investment initiatives through over 50 spaces and different investment vehicles. To date, over 800 startups have been invested. Telefónica Open Innovation is present in 16 countries. https://www.telefonica.com/es/web/innovation/telefonica-innovacion-abierta
About Aerial Technologies
Aerial provides ISPs and MSOs, healthcare players, security systems integrators, and smart object manufacturers with a unique cloud-based, low-cost solution that leverages existing wireless infrastructure and machine learning to give context, meaning and value to motion. Aerial’s passive and contextual solutions do not require users to interact with them, they recognize users and background. With our Wi-Fi motion analytics SaaS, customers have access to new revenue streams with a minimum investment. Our customers also gain from accessing end-user actionable data to help them make better business decisions. We aim at becoming the wireless standard for smart motion detection through continuous innovation, passion, simplicity and inventiveness for the smart home, home care, security, healthcare and targeted media applications. Aerial’s headquarters is based in Canada; we also operate from two regional offices in the USA and in Europe. For more information about how Aerial is making IoT more human, visit www.aerial.ai.
Patrice Belmonte – Marketing, Communications, PR