Seebo, an Israeli IoT start-up, has announced that it has secured $8.5 million (£5.9 million) in Series A funding.
The investment round was led by Carmel Ventures and brings the total raised to date up to $14 million (£9.8 million). It has also been confirmed that Ori Bendori, general partner at Carmel, will join Seebo’s board of directors following the investment.
Seebo’s main aim is to make the Internet of Things (IoT) as simple as possible for businesses by developing an end-to-end development, production and run-time platform. The company is already working with a wide range of companies in industries such as health and wellness, children’s products and education. The end-to-end platform promises to reduce time to market for smart devices and lower product lifetime costs.
Lior Akavia, co-founder and CEO of Seebo, explained that the work being carried out by his company allows their customers to focus on their core business aims without getting dragged down by IoT challenges.
“Introducing a smart, IoT-connected product to the market today is a long, costly and complicated process, often times leaving even the most motivated product teams frustrated and well over budget,” he said. “Seebo allows any product team to easily transform innovation to creation and focus on what will drive value for their customers.”
By utilising drag and drop features and providing users with instant pricing feedback, the Seebo platform allows IoT developers to go from the idea stage to a working prototype in just weeks. As well as a physical devkit, Seebo customers will also benefit from a dashboard app, customer success manager support and runtime analytics. The latter will help to ensure that businesses continue to manage and improve their IoT products post-launch.
Seebo has major plans for the future, with a number of patents currently filed and a growing list of partners, which is why it is not surprising that venture capital firms like Carmel Ventures are keen to invest in the start-up.
“We believe that smart IoT products will become a standard in various verticals very soon and that’s why we partnered with Seebo that is perfectly positioned to help bring the IoT revolution to market,” said Ori Bendori. “With Seebo, any product can become connected in a cost effective, fast and efficient process.”