The company recently raised $45 million in a Series B funding round led by Union Square Ventures and Battery Ventures, bringing its total funding to $87 million. The funds will be used for R&D and to ramp up commercial enterprise deployment. Viam is also planning to expand its 100-person team. However, Horowitz admits that the company still faces challenges in succinctly explaining what Viam's software does, describing it as a platform that bridges the gap between real-world hardware and software, the cloud, and machine learning.
Key takeaways:
- Viam, a Manhattan-based startup, has broadened its focus from primarily robotics to a wider range of sectors including IoT, smart homes, and industrial automation.
- The company has rebranded and is working on improving its messaging, as its previous focus on robotics was causing confusion among potential clients from different industries.
- Viam recently raised a $45 million Series B funding round, led by Union Square Ventures and Battery Ventures, bringing its total funding to $87 million. The funds will be used for R&D and commercial enterprise deployment.
- CEO Eliot Horowitz describes Viam as a platform that exists at the intersection of real-world hardware, software, the cloud, and machine learning, aiming to improve the interface between software and hardware.