What is CoreTigo?
Headquartered in Netanya, Israel, CoreTigo specializes in delivering robust IO-Link Wireless communication solutions tailored for machine builders, system integrators, and manufacturers of industrial equipment. Their technology aims to enhance operational efficiency and flexibility in industrial automation by enabling seamless wireless connectivity for essential machine data. The company's focus on high-performance wireless communication positions it as a key player in the evolving landscape of Industrial IoT (IIoT) and Industry 4.0 initiatives, addressing the growing demand for agile and scalable factory floor connectivity.
How much funding has CoreTigo raised?
CoreTigo has raised a total of $28M across 2 funding rounds:
Series A
$10M
Series B
$18M
Series A (2019): $10M with participation from Cardumen Capital, Meron Capital, Magma Venture Partners, Sierra Ventures, and Qualcomm Ventures LLC
Series B (2021): $18M led by Amazon's Industrial Innovation Fund, Meron Capital, Verizon Ventures, Lenovo Capital, Qualcomm Ventures, Cardumen Capital, Magma Venture Partners, and Emerson Ventures
Key Investors in CoreTigo
Qualcomm Ventures
Qualcomm Ventures is a global corporate venture firm that invests in early to growth stage technology companies, aiming to support entrepreneurs in building revolutionary businesses. With over 25 years of experience, the firm has a portfolio of 360 companies and manages $2 billion in assets. Qualcomm Ventures provides access to leading technology, domain expertise, and a robust network to help companies scale effectively. The firm focuses on various sectors including AI, automotive, mobile, enterprise, and smart systems.
Cardumen Capital
Cardumen Capital is an early-stage venture capital firm that invests in visionary founders transforming the world through technology, with a focus on DeepTech and AgriFoodTech sectors. The firm aims to support extraordinary entrepreneurs by providing access to investment opportunities and resources to help them build and scale their companies. With over a decade of investment experience, Cardumen Capital emphasizes a people-centric approach, treating founders and their teams with transparency and respect. Their expertise spans various technologies, including AI, Cybersecurity, and Big Data, catering primarily to B2B and B2B2C markets.
Meron Capital
Meron Capital focuses on investing in early stage technology startups by providing them with capital, strategic expertise, and access to a valuable network.
What's next for CoreTigo?
The recent enterprise-level funding, coupled with previous strategic investments, suggests CoreTigo is poised for accelerated growth and market expansion. This capital infusion is likely to fuel further research and development, enhance product offerings, and strengthen its global market presence. The company's trajectory, marked by consistent backing from prominent venture capital firms and strategic corporate investors, indicates a strong belief in its potential to revolutionize industrial communication. CoreTigo is expected to leverage this financial backing to solidify its leadership in the IO-Link Wireless space and capitalize on the increasing adoption of wireless technologies in industrial settings.
See full CoreTigo company page
