Origin AI, a Rockville, Maryland-based company specializing in WiFi Sensing technology, has successfully closed a $15.9 million Series B extension funding.
SaaS Investors
The round was led by Verisure, with participation from Okinawa Electric Power Company, Verizon Ventures, and INSPiRE.
Verisure is a European provider of professionally monitored security systems with 24/7 response services. We protect more than 5 million families and small businesses across 17 countries in Europe and Latin America. Its mission is to provide our customers peace of mind by protecting what matters most to them.
Origin AI Use of Funds
The company will use the funding to accelerate Origin AI's growth, expand its product portfolio, and support customer deliveries. Origin AI plans to use the capital to broaden its product offerings and grow its commercial business.
About Origin AI
Origin AI develops motion sensors. Its main offerings include home security, home automation, and wellness monitoring services, which transform smart devices into virtual sensors for a comprehensive home ecosystem. Origin's AI WiFi Sensing technology and products provide a solution to keeping homes safe and secure while maintaining privacy and comfort. The company provides sensing solutions for Fortune 500 ISP, security, and IoT companies with applications and services in property security, smart automation, and eldercare.
Funding Details
Company: Origin Wireless Inc.
Raised: $15.9M
Round: Series B
Funding Month: December 2023
Lead Investors: Verisure
Additional Investors: Okinawa Electric Power Company, Verizon Ventures, and INSPiRE
Company Website: https://www.originwirelessai.com/
Software Category: WiFi Sensing
Source: https://www.prnewswire.com/news-releases/origin-ai-raises-15-9m-in-series-b-extension-led-by-verisure-302009256.html