Funding will enable Seebo to expand its platform as well as increase market share across numerous verticals.
Seebo, the leading provider of an Internet of Things end-to-end development, production and runtime platform, announced today that it has closed a $8.5 M Series A financing round bringing the total raised to date to $14M. The funding was led by Carmel Ventures, a member of the Viola Group, with participation from existing investors, including TPY Capital. The company also announced that Ori Bendori, General Partner at Carmel, will join its Board of Directors.
Seebo provides companies with end-to-end tools and technology for the development, production and post launch needs of smart products, enabling product teams to expedite their go-to-market timeline while significantly lowering product lifetime costs. The company is currently working with numerous companies across a range of industries, including toy and children’s products, health and wellness, sports equipment, furniture and electronics, travel equipment, baby products and fashion.
Lior Akavia, Co-Founder & CEO of Seebo, said:
“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. Seebo allows any product team to easily transform innovation to creation and focus on what will drive value for their customers.”
Most product companies won’t want the headache, expense and commitment of building IoT development and runtime capabilities from scratch. Seebo’s platform is aimed at helping these companies solve the question of how to build and support connected products, allowing them to keep doing only what they do best.
“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, General Partner at Carmel Ventures. “With Seebo, any product can become connected in a cost effective, fast and efficient process. We look forward to working closely with the visionary team at Seebo as they continue to perfect their platform and increase market share across numerous verticals.”
“Seebo provides its customers with a set of tools which simplifies the development, production, and runtime processes necessary to bring smart products to market,” said Guy Yamen, Seebo’s Chairman of the Board and Managing Partner at TPY Capital. “We are excited to welcome Carmel on board and to help Seebo develop its roster of clients, which already includes some of the world’s most innovative companies.”