Published On: Tue, Oct 25th, 2016

Philips and Mitsubishi invest In Israeli Internet-of-Things Startup PointGrab

PointGrab has developed sensor technology for smart buildings.

internet-of-things-co-pointgrab

Israeli Internet-of-Things startup PointGrab has raised $7 million for its advanced sensor technology for smart buildings.
The investors include new partners – Philips Lighting, the global leader in lighting, Mitsubishi UFJ Capital, a venture capital arm of MUFG, Japan’s largest financial group, in addition to existing investors ABB Technology Ventures (ATV) and others.
Founded in 2012 by chairman Saar Wilf, CEO Haim Perski, and VP technology Amir Kaplan.

PointGrab raised $5 million in December 2015.

PointGrab provides CogniPoint, a critical and actionable data about occupants’ activity in a building, reducing expenses, saving energy, improving safety and enhancing business performance. PointGrab has installed CogniPoint smart sensors in numerous customer sites as part of ongoing collaboration projects. The CogniPoint solution will be available in early 2017.

PointGrab chief business officer Itamar Roth said, “CogniPoint’s ultra-intelligent edge-analytics sensor technology will be a key facilitator for capturing critical data for building operations optimization, energy savings improvement and business intelligence. We welcome our new partners and value their significant contribution in fulfilling our strategy of enabling truly intelligent buildings.”

Jacques Letzelter, Global Segment Leader, Office & Industry, Philips Lighting, said: “PointGrab has developed truly industry-leading sensor technology. Being a strategic investor gives us a strong competitive edge at a time when our customers are demanding people counting for space optimization. Incorporating this functionality in our connected lighting systems will enable us to address a larger market and further capitalize on our position as the lighting company for the Internet of Things.”

“Edge-computing like the CogniPoint solution is a new trend in the cloud computing era, ” said Muneki Handa, President of MUCAP. “With this investment, the synergistic effects between PointGrab’s smart analytics solution and MUCAP will greatly benefit the Japanese market.”

 

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