Oversubscribed financing round and new board member
MONTREAL, Oct. 28, 2020 /PRNewswire/ -- Aerial Technologies, defining the WiFi Motion Analytics industry, is pleased to announce the completion of an oversubscribed financing round and welcomes a new board member, signs of the company's market traction despite the global challenges of 2020.
Aerial recently launched the world's first AI-based ambient Remote Care Solution. This new product enables broader access to Remote Care at a fraction of the cost, as well as greater convenience with its passive, non-invasive approach. Aerial's Remote Care Solution allows elderly people and their families access to an affordable and intuitive solution without the need for installation, wearables or devices. Analyzing the disruption created by motion in the WiFi signals in one's home, Aerial's AI processing infers human activities to create numerous smart solutions that improve people's daily lives.
Earlier this year, Yaletown announced a significant investment to accelerate the growth of Aerial Technologies. Today, Yaletown reaffirmed its commitment to supporting Aerial by not only leading the financing round, but also with Shyam Gupta, Partner at Yaletown, joining the board of directors. "We believe that Aerial Technologies' solution will become the standard in ubiquitous sensing intelligence and will change the way we bring remote healthcare to consumers. With its Remote Care Solution, Aerial has proven the potential of the technology, and now we will bring the solution to market and accelerate the development of advanced features," stated Mr. Gupta.
"With the launch of our disruptive Remote Care application earlier this summer, we created a new market segment. The positive reactions we received confirmed the high level of interest in our technology on the part of customers and investors," added Steve Sifferman, CEO of Aerial Technologies. "With our extensive patent portfolio, high-performance AI-enabled platform and overwhelming market feedback, this round provides capital to accelerate our product roadmap as well as privileged access to industry leaders like Shyam Gupta and Yaletown Partners."
The largest round in Aerial's history was subscribed by stalwart partners Yaletown, Telefonica Ventures, Fonds Innovexport and Esplanade HealthTech Ventures, in addition to newcomers to Aerial's ecosystem that include BDC Capital, Tactico and the Wener Family Office. The enthusiasm around Aerial's solution fueled the financing, providing the company with further resources to accelerate its roadmap of advanced set of motion capabilities.
The successful growth of Aerial has not gone unnoticed, as the company won the Restarting Together challenge in September 2020 in the category of Boosting Social Recovery. Its Remote Care application won over the judges, who were looking for an innovative and unique solution to help rebuild our communities, while navigating the constraints caused by the pandemic. The future is bright for Aerial Technologies, as the company continues its ascension armed with dedicated partners and a disruptive technology.
About Aerial Technologies
Established in 2015, Aerial Technologies is a pioneer in WiFi Motion Intelligence endorsed by industry leading Service Providers and Chipset Manufacturers. Aerial Technologies' patented technology analyzes wireless infrastructure to infer human activities and enable customers and partners to develop practical applications that improve daily life. The company is headquartered in Montreal, Quebec, Canada. To learn more, view the website at www.aerial.ai
Yaletown is a leading Canadian IoT and Cleantech investor focusing on Intelligent Industry companies. Its investments enable the application of data and technologies to digitally transform traditional industries, drive innovation, create operational efficiencies and reduce the impact of climate change. In 2017, Yaletown received the CVCA's Venture Capital Deal of the Year award for its investment in BitStew, Canada's largest venture financed exit of 2016. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Toronto and Montreal. For more information, please visit www.yaletown.com
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SOURCE Aerial Technologies