Iotera, a San Francisco, California-based developer of a pet tracking solution, closed a $1m financing round.
The round was led by ZenShin Capital Partners with participation from Crunchfund, Startup Capital Ventures, String Ventures, EarlyMarket and Rubicon Venture Capital.
The company intends to use the funds to expand delivery of its IOTA® pet tracking system.
Led by Ben Wild, CEO, Iotera is currently taking pre-orders for the Iota GPS pet tracker and is targeting delivery of the product in the summer of this year. This follows a successful Kickstarter campaign in July of 2014, with more than $280k of pre-orders.
IOTA® GPS is a small and long battery life real-time GPS tracking device which will allow users to keep track of their valuables over much of the San Francisco Bay Area, Los Angeles, New York City and other large metropolitan areas through a crowd-sourced wireless network. While IOTA® GPS-enabled tracking will help protect and locate bikes, cars, children and more, many consumers are ordering them for use as a pet tracker to help prevent lost cats and dogs.