PointGrab Raises Million in Funding to Tackle Building-Automation IoT Device Market

HOD HASHARON, Israel–(BUSINESS WIRE)–PointGrab today announced an investment totaling $5 million from ABB Technology Ventures (Zurich, Switzerland), EcoMachines Ventures (London, UK), and Flex Lab IX (Milpitas, California, USA). Saar Wilf, PointGrab’s Chairman and first investor, is also participating in this funding round. Through this investment, PointGrab fuels its expansion into the rapidly growing $30 billion home and building-automation market. By embedding deep learning technology into optical sensing IoT devices, PointGrab products provide detailed information about activity within buildings to effectively support energy-saving, facility management, occupant comfort and safety, as well as business intelligence. “ABB Technology Ventures (ATV) invests in potential game-changing technologies that demonstrate true differentiation from anything that currently exists,” said Dr. Kurt Kaltenegger, Group Vice President, and head of technology at ATV. “PointGrab stands apart on the leading…


Link to Full Article: PointGrab Raises Million in Funding to Tackle Building-Automation IoT Device Market