Wiliot Raises $200M for SaaS Pivot & Chip Technology Licensing

Wiliot Secures Significant Funding for Ambient Computing Technology

Wiliot, an innovative IoT company, has successfully raised a substantial round of growth funding due to considerable interest in its groundbreaking technology and a strategic focus on large-scale deployment. The company has developed a uniquely thin and lightweight processor capable of operating on ambient power, yet possessing the computational capabilities of a conventional computer.

New Business Model and Chip Licensing

The company announced a $200 million Series C funding round, which will be allocated to its future business endeavors. Wiliot is transitioning towards a “sensing as a service” model, leveraging its AI to interpret signals from objects affixed with its chips, rather than simply offering “software as a service.”

Concurrently, Wiliot will implement a licensing model for its chip hardware, enabling production by multiple third-party manufacturers. Several licensing agreements are already established, paving the way for a broader range of chip sizes and form factors in the future.

Investment Highlights and Valuation

Softbank’s Vision Fund 2 spearheaded the financing, joined by a prestigious group of existing investors. These include 83North, Amazon Web Services (AWS), Avery Dennison, Grove Ventures, M Ventures, Maersk Growth, Norwest Venture Partners, NTT DOCOMO Ventures, Qualcomm Ventures, Samsung Venture Investment Corp., Vintage Investment Partners, and Verizon Ventures.

While the precise valuation remains undisclosed, Steve Statler, Wiliot’s SVP, indicated it aligns with the company’s shift to a SaaS model. Previous funding rounds suggest a current valuation potentially exceeding $400 million, considering a $70 million extension to a $30 million Series B in 2019.

Chip Technology and Current Adoption

Wiliot has been concentrating on business development utilizing the first iteration of its chips, manufactured internally. The forthcoming Version 2, slated for official release in September, will be produced by licensed third parties.

These chips, described by Statler as “printable computers,” are postage stamp-sized and incorporate RAM, ROM, sensors, Bluetooth, an ARM CPU, memory, and secure communication features, all powered by ambient radio waves. They offer significantly enhanced functionality compared to traditional RFID tags.

Currently, Wiliot has 30 paying customers utilizing “hundreds of thousands” of these chips, though these represent limited trials rather than full-scale deployments.

Real-World Applications and Industry Interest

A major pharmaceutical company, remaining unnamed, is employing Wiliot’s chips to monitor vaccine vials, tracking temperature, dosage, and dilution – a particularly relevant application given the ongoing global COVID-19 pandemic.

Interest in Wiliot’s technology extends to consumer packaged goods, furniture manufacturers, and the apparel industry, a sector already familiar with RFID technology.

Expanding Ambient Power Capabilities

Version 2 of the chips will enhance the ambient power harvesting capabilities. While Version 1 relies on existing radio waves and optional power boosters with a range of 1-3 meters, Version 2 promises a significantly extended range for these boosters. Wiliot is also collaborating with Sigfox on innovative ambient power solutions.

Future Outlook and Strategic Partnerships

CEO and co-founder Tal Tamir previously stated that the challenge lies not in harvesting energy, but in acquiring sufficient power for practical applications. He highlighted the disparity between nanowatt energy harvesting and the multi-watt consumption of smartphones.

SoftBank’s investment represents not only financial backing but also a potential strategic partnership, given its diverse portfolio of services and hardware investments.

Yanni Pipilis, managing partner at SoftBank Investment Advisers, emphasized Wiliot’s potential to bridge the digital and physical worlds through its hyperscalable, self-powered computer and AI-driven sensing capabilities. He envisions a future where everyday objects can ensure safety and communicate seamlessly, improving lives and health.