Nami, a Singapore-based multi-sensing platform and ecosystem enabler for the Internet of Things (IoT) industry, has announced the close of its Series A financing round, raising $10.5 million.
Nami said in a statement on Thursday it has raised the funds from strategic investors including Verizon Ventures, Amavi Capital, INSPiRE and Aconterra.
With this new funding, nami is poised to expand its team and geographical presence to rapidly deploy its advanced digital sensing infrastructure across residential and commercial buildings on three continents.
“This funding round empowers nami to achieve our mission of building an ecosystem of AI sensors that cater to IoT players, internet service providers, insurance companies, and others across multiple verticals,” said Jean-Eudes Leroy, Co-Founder and Chief Executive Officer of nami.
“Our innovative nami app brings peace of mind to families with security, safety, and wellness use cases while ensuring the utmost privacy,
“Additionally, our partners’ applications and dashboards utilize data from our API to enhance automation, complement their security solution and improve health outcomes in different types of environments,” he added.
Nami is a firm delivers artificial intelligence (AI)-powered digital sensing solutions to players in the security, safety, HealthTech, PropTech, and energy optimization fields through hardware-augmented software.
The firm enables enterprise customers to rapidly deploy intelligent presence, motion, and situation-aware IoT services.
Its full-stack platform ingests raw sensor data, augments it into actionable metadata, and uses it to trigger automation across entire IoT environment, delivering unprecedented use cases.
Over the past two years, nami has developed a powerful platform for software-based sensing applications, featuring cutting-edge sensing topologies and associated intellectual property.
Two of the nami Co-Founders, Jean-Eudes and Jérôme Leroy, serve as active members of the Connectivity Standards Alliance (CSA), part of the steering committee of the new CSA Health & Wellness workgroup, and chair Matter’s RF Ambient Sensing Workgroup.
“At Verizon Ventures, we invest in companies whose innovative solutions leverage 5G and other advanced network technologies to deliver impactful new capabilities for both consumers and business customers,” said Michelle McCarthy, Managing Director at Verizon Ventures.
According to her, nami’s talented and seasoned team has laid out an impressive new vision for connected homes, transforming them into intelligent living spaces.
“We look forward to supporting them as they develop digital sensing infrastructure for residential and commercial buildings in Asia, Europe and North America,” she said.
Meanwhile, Amavi Capital Managing Partner Frédéric Van Weghe said the firm is thrilled to be part of the nami project, which aims to digitize walls and ceilings through non-intrusive sensing technology.
“In the wake of the global agenda for carbon neutrality in residential and commercial buildings, the ability to deploy non-line-of-sight sensing technology across wide surfaces, detecting occupancy, is a major leap forward for the PropTech industry,” he said.
INSPiRE Mutualistic Symbiosis Fund Representative Director Ryosuke Takatsuki also said it is a great journey to build investment foundations for nami and proactively contribute to grow its business in Japan.
“We are very excited by our cooperation with nami in Health & Wellness space for Mimamori project in Japan,
“Together, we pave the way for properly aging in place thanks to the right mix of AI and IoT technologies, made easy to deploy. Just Japan itself is a target market of 26 million elderly households for AgeTech,” he added.
Aconterra Founding Partner Ron Schuermans also said IoT services on motion and presence are vital to reduce the carbon footprint and to increase the safety of people in residential and commercial buildings.
“Nami’s multi-sensing platform realizes this in a highly scalable way by using existing widely adopted technology that doesn’t require line of sight,” he said.
He also said situation awareness of people can be a global gamechanger for many use cases including energy management, alarm detection, and elderly monitoring.
“We’re thrilled to welcome nami in Aconterra’s smart building tech ecosystem and to support such an amazing team,” he added.