Aerial Technologies Inc., a Montreal-based artificial intelligence startup and TandemLaunch portfolio company, announced it has secured an additional USD$1.94 million in capital for its Seed Preferred round.
This latest round is led by an undisclosed chipset manufacturer, in addition to current investors, Fonds Innovexport, Kibo Ventures, Quebecor, and Telefónica Open Future_ who are increasing their positions.
Founded in 2015, Aerial uses existing Wi-Fi signals and cloud-based machine learning AI to detect presence and motion. Aerial processes the disruption of pre-existing Wi-Fi signals by people and pets and adds context and meaning to motion, allowing the recognition of presence, motion, activity and identity. Conceived by Michel Allegue, CTO, based on IP that originated at McGill University, Rutgers University and Steven’s Institute of Technology, the software can be embedded in virtually any Wi-Fi network equipment or device and does not require wearables or additional sensors to work.
“Having demonstrated that our technology works and meeting and exceeding prior funding milestones, I am very pleased our investors share our vision and are helping support our growth with additional capital and advice,” said David Grant, CEO of Aerial Technologies.
Early Smart Motion applications provided through Aerial’s 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. And while home security may be the logical first market for Aerial’s technology, it’s the ramifications for healthcare and elderly care that attracted Grant to the company.
The additional capital will be used to further accelerate the company’s growth on the organizational and business fronts.
“Aerial has the potential to enhance and augment the growing number of IoT solutions with the power of motion. Many solutions today require users to wear devices or cognitively interact with applications. With Aerial, devices use natural motion without thought. Imagine how smart your home could be if it knew when you were home and when you were away. Your home could lock the doors and set the alarm naturally, it could turn on lights and other appliances when you need them, and insure they are off or in power-saving mode when you don’t. We are currently testing these and other services such as elderly care monitoring in collaboration with our partners who will be offering such services,” said Grant.
The company simultaneously announced the nomination of John Major as our first independent board member. Major founded strategic consulting and investment company MTSG, of which he as been serving as president since 2003. He joined the board of Broadcom in 2003, served as chairman and lead independent director from 2008 to 2012, and left the board in April 2016 following the Avago acquisition. He has also held executive and leadership positions at Motorola Inc. for nearly two decades, most recently serving as Senior Vice President and CTO.