Israeli IIoT startup, CoreTigo, secured an additional $5 million in funding from Amazon’s Industrial Innovation Fund, with participation from existing Series B investors, including Emerson Ventures, Qualcomm Ventures LLC, and Verizon Ventures.
As E-commerce continues to surge, improved logistics and streamlined operations are crucial. As part of the burgeoning IIoT market, CoreTigo’s focus on wireless solutions, reducing the need for extensive cabling, presents a distinctive advantage that Amazon's investment will further catalyze.
CoreTigo’s technology is revolutionizing various industries by facilitating wireless communication between devices like robots, smart conveyance and sorting systems, and other machine tooling. This leads to a significant reduction in energy consumption, maintenance costs, and operational footprint. CoreTigo's IIoT solutions also enhance data collection and machine optimization, providing valuable insights to boost overall operational efficiency.
With increased digitalization and the advent of Industry 4.0, companies like CoreTigo are hastening a new era in manufacturing and logistics.
CoreTigo's new funding contributed to the completion of CoreTigo's Series B funding round, raising the total to $18 million.