TEL AVIV, Israel, February 2, 2016 /PRNewswire/ --
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.
"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," said Lior Akavia, Co-Founder & CEO of Seebo. "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."
Seebo is an Internet-of-Things development, production and runtime platform that allows any product team to bring smart product ideas to mass market. Seebo provides end-to-end tools which enable product teams to make their products smarter, in a fast and easy process, of various industries. Seebo allows its clients to focus on aspects they master, by simplifying complex electronics, software and runtime issues. For more information, please visit http://www.seebo.com. Follow Seebo on Twitter at @Seebo
About Carmel Ventures
With over $800 million currently under management, several successful exits, and a growing portfolio of promising companies, Carmel Ventures is among Israel's top-tier venture capital funds. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, the venture capital firm provides significant capital and active support through the growth cycle of its portfolio companies, and is recognized as a true company-building fund in Israel. Carmel Ventures is a member of the Viola Group, Israel's premier technology-focused PE group with over $2 billion under management. For more information please visit http://www.carmelventures.com and http://www.viola-notes.com
About TPY Capital
TPY Capital is an investment firm dedicated to the growth of its technology portfolio companies. Since its inception in 2011, when it was formed by the Taché family, Dekel Persi and Guy Yamen, TPY Capital has deployed dozen of millions of dollars to fuel the global expansion and R&D innovation of the companies it invested in.