Israeli developer of a smart baby monitoring system Nani announced today that it has concluded a $ 25 million series of C-Series funding led by new investor GV (formerly Google Ventures), with the participation of existing investors Jerusalem Venture Partners (JVP), Upfront Ventures, RRE Ventures and Rho Capital Partners. The latest funding brings in $ 75 million of the total capital the company has raised.
Funds from this round will enable Nanit to meet global customer demand by investing in infrastructure and staff, as well as research and development, to create more innovative products, services and features within applications based on Nanit’s core technology and insights.
Headquartered in New York, with development offices in Israel, the company was founded in Israel by Dr. Assaf Glazer, Tor Ivry and Andrew Berman.
In the past year, Nanit reports that its customer base has doubled and that revenues have increased by more than 130% compared to last year.
Nanit provides parents with instant information and personalized information about the health and well-being of their baby and child right on their phone. The solution begins with Nanit’s overhead kindergarten camera on AI technology that uses advanced computer vision technology to see and hear everything happening in and around the crib, combined with machine learning and data-backed sleep science to provide effective insights to help parents learn about their child’s development. Nanit’s protected line of Breathing Wear clothing integrates with the Nanit camera, giving parents the ability to safely monitor the baby’s breathing movements without sensors or wires. Together with the Nanit app, these products and features provide a detailed personalized insight that helps babies and parents sleep well and feel confident in the crucial early years of a child’s life.
The company has introduced its next generation of Nanit Pro nursery HD cameras along with Smart Sheets, a premium textile that allows parents to measure their baby’s height and track their growth using Nanit’s computer vision that can read the pattern of ink on Nanit beds.
Nanita CEO Sarah Dorsett said: “We are excited about what Nanit can do to support families on their amazing parenting journey and we believe there are endless possibilities, both now and in the future, to provide parents with personalized insights into their child’s health and development “With strong support from our investors and a rapidly growing global community of loyal customers, we will continue to introduce innovative solutions that facilitate parenting and are a natural extension of the technology they use on a daily basis.”
Posted by Globes, business news in Israel – en.globes.co.il – February 22, 2021
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