Israel-based smart baby monitoring system developer Nanit announced Monday, February 22, 2021, that it had successfully closed $25 million in a Series C investment round. According to Tech Crunch, the recent funding round brings the total amount raised by Nanit to $75 million.
Nanit provides individuals and users with an artificial intelligence-powered nursery camera. With AI technology, the nursery camera is able to see and hear everything that is happening in the baby or toddler’s room. Through this, the startup gives people access to data that pertains to their baby’s health and well-being on their mobile device, notes CTech.
CTech said that the Breathing Wear apparel line released by Nanit also works in conjunction with the artificial intelligence-powered camera. This clothing line does not use wires or sensors, giving babies and toddlers alike a safer clothing choice while allowing their parents and guardians to monitor their health.
In addition to this, Tech Crunch states that with its line of smart sheets, the AI-powered camera can gauge the height of the baby between doctor’s visits. This is made possible with the black and white pattern located on the four corners of the crib’s sheet. Breathing motions and sleep patterns can also be tracked, states The Jerusalem Post.
The Series C investment round was led by GV, formerly known as Google Ventures. GV is Google’s investment arm. As part of the deal, the Frederique Dame will join Nanit’s Board of Directors, states Tech Crunch.
Apart from GV, other investors who took part in the said funding round include existing investors. These include the likes of Jerusalem Venture Partners, Rho Capital Partners, RRE Ventures, and Upfront Ventures.
In keeping with the terms of the deal, the CTech reports that a number of numbers will also join Dame in the board of directors. These include Erel Margalit, the found and executive chairman of Jerusalem Venture Partners; Mark Suster from Upfront Ventures; Will Porteous, a general partner at RRE Ventures; and Meka Millstone-Shroff, an independent advisor.
Funds obtained from the recent Series C funding round reportedly allow Nanit to expand its products and services, as well as its in-app features to complement its technology. It also intends to double down on increasing its staff and infrastructure.
Among the products and nursery items that Nanit plans to incorporate and improve on in the future are changing pads and nightlights, reveals Tech Crunch, especially with the app improving the use of these items.