Pixie Technology, an augmented reality startup
, has raised $18.5 million in a series B financing round led by Spark Capital
, with participation from Cedar Fund
, and a slew of private investors.
Founded out of Los Altos, California in 2011, the startup has a development office in Israel and focuses on creating Location of Things (LoT)
technology platform. This helps in object-tracking by making location an exact science, allowing anyone to create a digital map of their things and easily track and find their favorite everyday items.
“We are thrilled to be announcing the closing of our Series B round led by Spark Capital and believe the size and caliber of the investment partners demonstrates Pixie’s position as a true leader in location technologies,” said Amir Bassan-Eskenazi, CEO and Co-founder, Pixie Technology.
The new funds will simultaneously allow us to enhance and expand our consumer proposition, while also developing our pioneering Location of Things platform that leverages the power of mesh networks. We will soon be in a world where everything around us can be given a digital identity, and Pixie looks forwards to delivering a future where lost and misplaced items are a thing of the past.
The company combines augmented reality navigation with signaling technology and had rolled out its first product, Pixie Points
for pre-order last year. The product gives a digital identity to everyday physical items so that can be instantly located.
The company plans to use this investment to introduce new advanced product capabilities and scale production to bring Pixie to even more customers. It also plans to invest in further expanding its Location of Things platform and ecosystem and has opened its Software Development Kit
to allow developers and third parties to create new applications, building its signaling technologies into other products, devices and services.
“Pixie has created a new category of product that gives location-aware digital presence to physical devices. Location is what has been missing in IoT. Pixie is an attractive platform for a set of new and interesting applications,” said Santo Politi, General Partner & Co-founder, Spark Capital. “The company has the technology advantage and business model to appeal to consumers and work with partners. We are excited to support the Pixie team as they build their company.”
This round of investment brings the total funds raised by Pixie to date to $24 million, having raised $5.5 million in 2013.