Amazon Web Services and Qualcomm Inc backed Wiliot technology has raised $200 million in a funding round led by SoftBank Vision Fund 2. The company, which makes chips that can be embedded on product packaging to help track items during their manufacturing, shipping, and sale, has so far not disclosed the valuation at which the funds were raised.
According to the top company sources, the chip technology can be integrated into vaccine vials and food packaging, among others. Wiliot says it aims to expand the internet-of-things network to include everyday products.
The company was founded in 2017 and is headquartered in Israel, with a presence in California, Germany, Ukraine, Australia and Taiwan. The investment marks another major bet on Israeli growth companies from Japanese conglomerate SoftBank Group Corp.
Earlier SoftBank has also invested in artificial intelligence-based facial recognition startup AnyVision and cloud firm Redis Labs. Wiliot also counts the investment arms of Samsung Group and Verizon Communications Inc among its backers.
The company also plans to use the fresh funds to expand its operations in preparation for the upcoming launch of its V2 product. As part of the new arrangement Amit Lubovsky, director at SoftBank Investment Advisers, will take a seat on Wiliot's board as part of the deal. The company raised $70 million in a previous funding round in February last year.