Altierre Corp., a San Jose, Calif.-based provider of ultra-low power long-range wireless technology for the Internet of Things and innovative applications, secured more than $21m in financing.
The round was co-led by new investor Stratim Capital and D.E. Shaw & Co., with participation from existing investors ATA Ventures, DuPont Capital Management, Labrador Ventures and Kinetic Ventures.
The company intends to use the funds for global growth plans.
Led by Chairman and CEO Sunit Saxena, Altierre provides wireless technology that enables devices to exchange data and instructions bi-directionally in a low energy scalable network. Its solutions enable retailers to implement dynamic, intra-day promotional pricing, deliver point of decision customer interactive mobile communications (BLE/QR codes/NFC, etc.), optimize product placement through temperature, lighting and customer traffic monitoring, maximize inventory turn with out-of-stock shelf sensor devices, and leverage innovations and applications.
The technology can be scaled into many verticals including supply chains, manufacturing, automotive, homes, and defense, etc.