Aerial Technologies Inc, a Montreal-based artificial intelligence company, has concluded a CAUSD 2.25 million convertible note financing co-led by Fonds Innovexport and successful entrepreneur and investor Jean-FranÃ§ois Grenon, the company said.
Strategic investors include Kibo Ventures, a Spanish-based VC firm which has Grupo TelefÃ³nica as one of the main investors in the fund and Wayra, part of TelefÃ³nica Open Future_ network, and Quebecor Group, a Canadian integrated communications company. Angel investors affiliated to TandemLaunch, the Montreal-based incubator that initially backed and incubated Aerial, also joined the round.
Founded in 2015, Aerial is a software company that uses existing Wi-Fi signals, and cloud-based machine learning AI to detect presence and motion. As people, pets and in-organic objects move in the mess of Wi-Fi signals already in your home or office, they distort and disrupt these Wi-Fi signals in predictable ways.
Aerial processes these distortions to add context and meaning to motion allowing the recognition of presence, motion, activity and identity. Aerial software can be embedded in virtually any Wi-Fi network equipment or device and does not require wearables or other sensors to work. Aerial´s technology was conceived by Michel Allegue, CTO, based on IP that originated at McGill University, Rutgers University and StevenÂ´s Institute of Technology.
Early Smart Motion applications provided through our business partners will include Presence Awareness and Motion Detection, Home Intrusion Detection, Smart HVAC energy optimization, healthcare and elderly care monitory services, and intelligent motion awareness for a variety of smart home devices that improve the convenience and quality of life for consumers.
Aerial is a Montreal-based Corporation with offices in the US and Europe. Aerial´s motion detection software uses existing Wi-Fi signal distortions and cloud-based machine learning AI to provide context and meaning to motion without the need for sensors or wearables.
Based in Quebec City, Innovexport invests in start-up companies in the Province of Quebec having innovative products or services with strong export potential. Innovexport was created by entrepreneurs for entrepreneurs with the objective to help them grow their companies.