Wiliot is Raising a Humongous Amount of $200 Million for the Purpose of IoT Tracking

Wiliot is a SaaS company that has implemented IoT for executing its services. The company is termed to be one of the proficient IoT leaders with the potential of implementing a change within the products and manufacturers. This change is none other than a raise of $200 million under the Series C funding. This humongous funding is led by the Softbank Vision Fund.

Wiliot possesses a platform built over Wiliot IoT Pixels and its respective cloud (Wiliot Cloud). The IoT Pixels adopted by this company are self-powered yet low-cost tags that can possibly attach to any of the packaging or products for sensing the range of environment and physical data. This data is then infused upon the cloud by Wiliot, and ML algorithms are carried out within it for translating all of that data, into progressive insights, for helping the businesses thrive. It has the potential to be implemented across diverse industries, with a sense of data privacy, data authenticity, and data security.

Wiliot understands that there was a huge technological gap in data tracking for the products that used to travel farther distances without any data updates. The products should leave data behind while they move to ensure that businesses and consumers can track their whereabouts, situation, or status. Due to the lack of this potential information, the supply chains were suffering on a global scale. Wiliot has recognized this loophole and has promoted many industries such as pharmaceuticals, apparel, furniture, and consumer-packaged goods, to work with them in order to implement the sensing potential, connectivity, and intelligence.

And this idea of Wiliot turned out to be effective, to keep track of the products that went off the radar, while manufacturing process, shipping process or consumption process. All of these journeys for each of the products are available online to ensure that no product gets lost. Hence, Wiliot’s implementation of IoT will enhance the right ways of distributing, selling, using, reusing, and recycling the product.

All of the products that are enabled with the efficacies of Wiliot have the potential to sense temperature, level of filling, location change, motions, proximity, and humidity. The IoT Pixels embedded by Wiliot can be integrated accordingly for food packaging or vaccine vial transportation needs. Hence, it intends to improvise the real-time tracking aspects of the supply chain. By adopting this technology, it is going to be easy for the brands to understand their inventories and act accordingly to refine the business process. Now, the brands will have the ability to understand the usability of their products, even after it reaches the consumer’s end. The data will be drawn based upon a highly secure and private platform.

The existing technology of Wiliot will make it evident for the consumers to enjoy the convenience of receiving orders on time and in top-notch condition. With the new funding scheme by Wiliot, there is an expectation of enhancing this IoT mission to the next level. The vision is to use AI-sensing, heavy hardware, and new business models for better business executions.

Credit: To know more about Wiliot’s initiative, refer to this link!