This was the second investment made by our first fund.
Jio Raises $1.2M to Build An “Invisible” Wearable Platform – Starting With Kids
Funding Round Lead by Google Alumni and Techstars
Chicago, June 27, 2016 – Chicago startup Jio, Inc. announced it has raised $1.2M in seed funding to create the first of its kind location-based machine learning and low power sensor platform. Jio’s proprietary technology enables discreet form factors without sacrificing battery life. The capital raised will fuel the engineering, manufacturing, and marketing of their first product, Jiobit – targeted for pre-sale later this year.
“Long lasting battery life and simple integration into our clothing is just the beginning,” said founder, John Renaldi. “This disruptive technology will affect products for kids, adults, and other tangential spaces in the near future.”
Developed specifically for children, Jiobit is a mobile app and wearable device that discreetly blends into everyday clothing, delivering over a week of battery life. Jiobit addresses a common parenting challenge and promises to keep parents and kids connected. Through a wireless subscription service, Jiobit operates on a cloud platform that offers the most comprehensive set of monitoring and notification features available on the market.
Jio’s investors include several industry notables: Lior Ron, previously of Google and now cofounder of Otto; Jim Wicks, former SVP of Design at Motorola; Tyler Hall, VP at Samsung SmartThings; and Techstars, a mentorship-driven accelerator program who just announced Jio as one of its newest members.
“We see tremendous growth in technologies that help modern, tech savvy parents”, said Troy Henikoff, Managing Director of Techstars. “ Jio is developing a unique solution to a real problem, with technology that has implications across multiple categories.”
“We’re surrounded by technology, but it’s not helping us with what we care about most – our kids,” said Lior Ron, Jio advisor and board member. “The bar is very high. We need seamless technology and a fully integrated solution to truly resonate. John’s vision, leadership and team puts Jio in a position to lead the next wave of wearable technology.”
For updates, pre-order information, and a FREE one-year subscription visit jiobit.com.
Jio is comprised of seasoned designers, marketers, and engineers with a history of building innovative and disruptive consumer products and businesses. In prior endeavors the team has logged a combined 150 patents and developed and shipped products selling in the millions worldwide. Jio is proudly headquartered in Chicago, with a software development center in Silicon Valley.