CoreTigo Raises $ 13 Million in Series B Funding Led by Cardumen Capital and Verizon Ventures

CoreTigo’s innovative IO-Link wireless technology creates a range of new and robust wireless solutions previously not possible in the industrial space for real-time control and monitoring. The company’s solutions revolutionize factory automation by providing wired-grade wireless connectivity that enables the most adaptive and flexible machine design; intelligent and modular production line planning; and full access to data anywhere and in any environment.

As intelligent machines and processes evolve, the continued development of industrial wireless communication is critical to the advancement of the Industrial Internet of Things (IIOT). CoreTigo’s IO-Link wireless solutions are an integral part of the convergence of IT and OT, complementing global 5G wireless communications providers to enable high performance communications at all times.

“The benefits of Industry 4.0 cannot be realized without prioritizing wireless communications as a key component,” said Tammy mahn, Managing Director of Verizon Ventures. “CoreTigo is a leader in manufacturing automation with its wireless technology that, together with 5G and multi-access edge computing, brings the power of data to manufacturers cost-effectively, reliably and flexibly. “

In order to meet the needs of manufacturing plants for smart and adaptive technologies, CoreTigo’s solutions offer a wide range of benefits such as reduced downtime, predictive maintenance and increased throughput. With a diverse set of challenging market demands from machine builders, automation equipment manufacturers and system integrators, funding will be used to invest in customer satisfaction and expand sales and business activities. business development around the world.

“CoreTigo is the market leader in mission-critical wireless solutions while integrating its technology and products with many leaders in industrial automation. Its world-class team, defensible technology and fast-growing business place them at the center of the next wave of innovation in the automation sector, ”said Gonzalo Martinez from Azagra, founder and general partner of Cardumen Capital.

“The continued funding of our existing investors in this cycle and the addition of Verizon Ventures is a great vote of confidence in CoreTigo,” said Eran Zigman, co-founder and CEO of CoreTigo. “This validates the huge market opportunity and growing demand we are seeing for mission-critical intelligent wireless solutions.”

A variety of CoreTigo’s global industrial partners can be seen at: Working together for a wireless industrial world.

About Verizon Communications Inc.

Verizon Communications Inc. (NYSE: VZ) (Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Based at New York City and with a global presence, Verizon has generated revenue of $ 128.3 billion in 2020. The company offers data, video and voice services and solutions over its award-winning networks and platforms, meeting customer demand for mobility, reliable network connectivity, security and control.

About CoreTigo

CoreTigo frees up industrial space by providing high performance IO-Link wireless communication solutions for machine builders, system integrators and industrial equipment manufacturers. CoreTigo products enable the design and modernization of machines and production lines that were not possible before. These solutions increase flexibility, adaptability and modularity, resulting in cost efficiency, increased productivity and reduced downtime. Adopted by industry leaders, the global IO-Link Wireless standard, suitable for harsh factory environments and motion control applications, provides cable-grade connectivity for millions of sensors, actuators and industrial devices in the whole world.

Video – https://youtu.be/2nK8g3Yvu1E
Logo – https://mma.prnewswire.com/media/1483957/CoreTigo_Logo.jpg

Contact:
Roy Glas
Marketing Manager
+ 972-52-8536663
[email protected]

SOURCE CoreTigo

Related links

https://www.coretigo.com


Source link

About Terry Simmons

Check Also

Sadiq Khan visits LEVC electric taxi factory as he seeks to increase London charging points – Car Dealer Magazine

London Mayor Sadiq Khan joined his West Midlands counterpart Andy Street for a visit to …