TORONTO, Aug. 20, 2014 /CNW/ - Flybits Inc., a Toronto start-up that has created a context-aware experience development platform for mobile environments, has closed a $3.75 million Series A financing. Led by Robert Bosch Venture Capital GmbH (RBVC) and Trellis Capital Corporation with participation from MaRS Investment Accelerator Fund and Ryerson Futures, Inc., the investment will advance the company's product development and international growth in the United States and Europe.
Since spinning off from Ryerson University in 2012, Flybits has raised a total of $4.05 million to date, including a seed round from MaRS Innovation. Flybits technology has been used in developing smarter cities, connected stadiums, smart corporate campuses, shopping malls, conference venues and even fashion shows. The company also concurrently incubated its technology at the Ryerson Digital Media Zone in Toronto and Vodafone Xone in Redwood City, California.
"Flybits is RBVC's first investment in Canada," said Luis Llovera, managing director of Robert Bosch LLC based inPalo Alto, California. "The company has demonstrated a unique and innovative approach in building foundational technology to deliver Contextual Mobility Services for both display-driven devices and for the emerging Internet of Things applications. Flybits' strong roots in tangible and high impact R&D, their ability to predict the required infrastructure for the industrial Internet and their global entrepreneurial ambitions were some of the reasons we were attracted to this company."
Flybits is a young and hyper-innovative software company based in Toronto with smaller offices in London and New York. Flybits develops tools that allow users to create predictive and context-aware computing environments for mobile, wearable and connected devices. Flybits leverages the exponential growth of data, augments it with sensing capabilities and enables its users to intuitively create and customize a unique contextual experience for their entity of interest. www.flybits.com
Original Release: Newswire.ca
Image: Courtesy Flybits