- Angela Gonzalez-Rodriguez |
New York - Monday, a batteries-free IoT tags manufacturer startup announced that it has closed a 30 million USD round of funding. Amongst other investors, Wiliot now counts on Amazon and another “retail giant” which name remains undisclosed.
Sources cited by ‘TechCrunch’ tell the startup’s valuation is circa 120 million dollars, having raised 50 million dollars to date.
Wiliot’s co-founder and CEO Tal Tamir explained to ‘TechCrunch’ that the plan is to use this latest Series B funding to work on that next stage of the business, that is producing its chips at scale and at a competitive price point versus other solutions like RFID tags, as well as secure its first customers.
In comments picked by the tech magazine, Steve Statler, Wiliot’s SVP of marketing and business development, said that likely first customers will be in the apparel industry, where the startup’s chips could be embedded on the care labels both to help track items of clothes from manufacture to sale, and subsequently to provide services to the people who buy those items.