WiSilica Completes $3 Million Series A Funding Round to Deliver the Internet of Things and Smarter Environments4th February 2016
IoT Platform Enables Customers to Create Secure, Smart Environments Using Bluetooth® Low Energy, Machine Learning and Geolocation
ALISO VIEJO, Calif., February 4, 2016 – WiSilica, the company that is creating smart environments, today announced the closing of a $3.35 million Series A round led by FirstFloor Capital, with Anchor Asia Management, Aurotek and several of the company’s original angel investors also participating.
WiSilica’s IoT platform and software fabric enables millions of devices to easily connect to the Internet of Things by using the power of Bluetooth Low Energy (BLE) protocols, along with mesh technology to work autonomously without bridges or connectivity, to the Cloud. The complete end-to-end IoT solution allows connected devices to understand their environment and use predictive intelligence to improve the user experience, reduce cost and improve efficiency.
The funding will enable WiSilica to support growing customer demand for its platform and support expansion across multiple applications and markets, including the smart home, lighting, energy management and across industries. WiSIlica will also expand its team of 50 people, mainly focused on R&D with offices in Southern California and India, to continue developing its innovative hardware, software and Cloud IoT platform and technology, while broadening its compatibility, security and privacy features.
“WiSilica has great potential to transform the Internet of Things by creating more smart environments,” said Fahmi Hamzah, principal and executive director of FirstFloor Capital. “Our fund strategy is to look at technology that provides simple and rapid platforms for customers, and WiSilica’s platform addresses this need at a global level. It’s clear that WiSilica is poised for significant future growth, and FirstFloor Capital is proud to be part of it.”
The Internet of Things has made huge advances across numerous IoT applications, but with it brings tremendous amounts of complexity. Around the world, securing the IoT is a key issue, along with flexibility, adaptability and scalability. WiSilica’s smart environment IoT platform addresses this complexity—working with legacy devices and new products designed for the IoT, and sets new benchmarks for IoT success in areas including real-time presence and awareness, secure connectivity, data analytics opportunities, cost savings and highly responsive user experiences.
“We founded WiSilica two years ago with the goal of solving the complexity with the Internet of Things,” said Suresh Singamsetty, founder and CEO of WiSilica. “We now have a flexible and secure platform, where customers can use technologies such as Bluetooth® Low Energy, machine learning and geolocation with more precision than ever before, which presents huge efficiency opportunities for businesses. We have a rapidly growing design pipeline encompassing a wide variety of exciting IoT applications, all based on our smart environment IoT platform that can easily connect with the existing smartphone ecosystem and our mesh networking technology.”
WiSilica is a leading provider of IoT solutions with its open platform that easily, flexibly and cost-effectively bridges objects, location and people to create smart environments that have predictive intelligence. WiSilica simplifies the challenges with today’s IoT by enabling connected devices to understand contextual elements such as user behaviors, sensor inputs and proximity. The result is a true smart environment under de-centralized control, in which customers can connect energy, public infrastructure and healthcare systems with intelligent devices managed by mobile apps and the Cloud.
About First Floor Capital
First Floor Capital is a venture investment firm that invests in high-growth technology companies in industries serving information technology, mobility, communications, and life sciences. The firm focuses on companies with unique competitive advantages, sustainable value propositions, and strong management teams. Its strength and global network enable the firm to help portfolio companies to expand routes to international markets and establish strategic partnerships to accelerate growth. The First Floor Capital team acts as a trusted partner and helps their entrepreneurs and teams to build truly world-class companies.
Green Flash Media for WiSilica