Aerial Technologies Inc. has raised $2.25 million in convertible note financing co-led by Fonds Innovexport and Jean-François Grenon. Other investors include Kibo Ventures, a Spanish-based VC firm which has Grupo Telefónica as one of the main investors in the fund, Wayra, part of Telefónica Open Future_ network, Quebecor Group, and angel investors affiliated to TandemLaunch.
“We are delighted to be working with such a select group of investors and we believe that their interest validates the immense potential of Aerial’s novel approach to motion detection for the Wi-Fi home,” said David Grant, CEO of Aerial Technologies. “With their support, we are now well positioned to accelerate the commercialization of our motion interface with some of the most important telecommunication companies in the world.”
“Videotron sees a vast potential for Aerial’s technology as it opens the door to a multitude of promising services and applications for both our residential and business customers,” said Serge Legris, Vice President & Chief Technology Planning Office of Videotron. “We are also looking to test different opportunities in our Open-air Laboratory for Smart Living.”
“Aerial has a very strong team supported by TandemLaunch, a world-class incubator. Considering the traction they already have in the market, we believe they will be successful. Innovexport definitely made that investment with the objective to participate in future rounds to foster Aerial’s growth,” added Serge Lavergne, Vice-President Investment.
Founded in 2015 with backing of TandemLaunch, Montreal based Aerial is a software company that uses existing Wi-Fi signals, and cloud-based machine learning AI to detect presence and motion. Aerial software can be embedded in virtually any Wi-Fi network equipment or device and does not require wearables or other sensors to work. Aerial’s technology was conceived by Michel Allegue, CTO, based on IP that originated at McGill University, Rutgers University and Steven’s Institute of Technology.
Early Smart Motion applications provided through its business partners will include Presence Awareness and Motion Detection, Home Intrusion Detection, Smart HVAC energy optimization, healthcare and elderly care monitory services, and intelligent motion awareness for a variety of smart home devices that improve the convenience and quality of life for consumers.
Aerial’s technology, already in pilot with several large Internet Service Providers (ISPs) and Multi Service Operators (MSOs), will be deployed into existing equipment offered through these service providers.
photo credit: Aerial Technologies