Veego, a Ramat Gan, Israel-based developer of artificial intelligence technology for eliminating malfunctions in the connected home, completed a $5m seed funding round.
Backers included Robert Bosch Venture Capital GmbH (RBVC), the venture arm of the Bosch Group, State of Mind Ventures (SOMV) and North First Ventures (N1V).
The company intedns to use the funds to boost product development and market presence in the market of autonomous support for routers, smart hubs, gateways and edge devices in smart homes.
Founded by Amir Kotler, Denis Sirov and Reffael Caspi, Veego provides AI technology that deploys on smart hubs, routers and IoT devices, automatically detecting, analyzing and repairing connected-home device and system problems before customers even notice them.
The company is ready to deliver its autonomous malfunction detection, analysis and repair technology to Internet Service Providers and Smart-Hub manufacturers this Summer. It is also developing new technologies that will be embedded in smart devices, enabling visibility into IoT device performance.