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The Silicon Review Asia

CoreTigo Secures $13 Million Series B Financing Round

CoreTigo Secures $13 Million Series B Financing Round

The Israel-based industrial wireless connectivity solutions provider closed its $13 million Series B round. Cardumen Capital led the round with participation from new investor Verizon Ventures and existing investors Lenovo Capital, Magma Venture Partners, Meron Capital, Qualcomm Ventures LLC and Sierra Ventures.

CoreTigo has so far raised $27 million to date. The company’s IO-Link Wireless technology is creating an array of new and robust wireless solutions previously not feasible in the industrial space for real-time control and monitoring. It is doing big things for factory automation by providing cable-grade wireless connectivity that enables most adaptive and flexible machine design, smart and modular production line planning, and full access to data anywhere and in any environment.

“The continuous funding of our existing investors in this round and the addition of Verizon Ventures is a great vote of confidence in CoreTigo,” said EranZigman, CoreTigo Co-founder and CEO. “This validates the huge market opportunity and the increased demand we are experiencing for smart wireless mission-critical solutions.”

CoreTigo’s solutions are driving a broad range of benefits such as downtime reduction, predictive maintenance, and throughput increase. The fresh funding will help the company invest in customer satisfaction and expand sales and business development activities across the globe.

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