Noveto Systems, a Tel Aviv, Israel-based maker of a device to listen to audio, raised $10M in bridge funding.
Adit Ventures made the bridge investment as part of a Series A funding to raise an additional $20m by year-end. In conjunction with the funding, Eric Munson, Founder, and CEO, Adit Ventures, joined the Noveto Board of Directors.
The company intends to use the funds rapid expansion, with plans to triple the headcount over the next year, opening a US office.
Led by Dr. Christophe Ramstein, CEO, Noveto is a device is a smart assistant compatible, connecting to a smart home network. Featuring a depth camera, AI-based built-in face tracking, voice recognition, advanced microphones, and sensors, the device enables a personalized experience – a benchmark for the future of smart living. The desktop device comes alive with the backing of engineering partner Foxconn, a consumer electronics manufacturer.