Total amount raised
$68 Millions
Latest funding date
Location
Butlr has successfully raised funding through multiple rounds, with notable investors including Wistron Corporation and Ricoh. The company specializes in AI-driven solutions for intelligent buildings, offering products like the Heatic 2+ sensor for occupancy detection.
Keep reading to explore the intricacies of Butlr's fundraising journey and the investors backing this innovative platform.
What Is Butlr?
Butlr, founded on December 1, 2019, by Honghao Deng and Jiani Zeng, is a physical AI startup based in Burlingame, California. The company specializes in wireless anonymous people sensing and occupancy detection solutions, leveraging body heat to provide real-time spatial insights.
Operating with a team of 51-100 employees, Butlr's technology is designed to detect human presence and activity without compromising privacy. Their solutions cater to various sectors, including workplaces, senior living, higher education, and smart buildings, emphasizing privacy, scalability, and affordability.
How Much Funding Has Butlr Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: 500 Global, SOSV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial technology and validate the market need for AI-driven occupancy detection solutions.
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2020
- Lead Investors: Tectonic Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further refine the technology and prepare for a broader market launch.
- Seed Round
- Amount Raised: $8M
- Date: May 2021
- Lead Investors: Hyperplane
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the team to meet growing demand.
- Series A
- Amount Raised: $22M
- Date: July 2022
- Lead Investors: Ray Stata, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and enter new markets.
- Grant
- Amount Raised: Not publicly disclosed
- Date: October 2023
- Lead Investors: MassAITC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development initiatives.
- Series B
- Amount Raised: $38M
- Date: August 2024
- Lead Investors: Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet the increasing demand for sensors and improve technology for faster emergency response and healthcare interventions.
Total Amount Raised: $68M. Current Valuation: Not publicly disclosed.
Key Investors
- Foundry Group
- Details: Foundry Group is a venture capital firm that provides early-stage technology investments. Established in 2007, it manages over $3 billion for its limited partners.
- Investment Focus Areas: Early-stage technology, software, hardware.
- Notable Investments: Fitbit, SendGrid, Zynga.
- MassAITC
- Details: MassAITC is an organization focused on advancing AI and technology initiatives. It supports startups and research projects that drive innovation.
- Investment Focus Areas: AI, technology research, innovation.
- Notable Investments: Not publicly disclosed.
- Ray Stata
- Details: Ray Stata is the co-founder of Analog Devices and a prominent figure in the tech investment community. He has a long history of supporting innovative technology companies.
- Investment Focus Areas: Technology, innovation, impactful startups.
- Notable Investments: Not publicly disclosed.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global internet, software, consumer, and financial technology industries. Founded in 2001, it has a significant presence in the venture capital space.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Hyperplane
- Details: Hyperplane is a venture capital firm that invests in early-stage technology companies. It focuses on startups that leverage data and machine learning to create innovative solutions.
- Investment Focus Areas: Data, machine learning, early-stage technology.
- Notable Investments: Not publicly disclosed.
What's Next for Butlr?
Butlr's future is brimming with opportunities, particularly in senior living communities where their AI sensors can address labor shortages and enhance resident care. The growing demand for non-intrusive, privacy-preserving monitoring solutions in various sectors, including corporate offices and retail, presents a significant market potential. With a total of $68 million raised, Butlr is well-positioned to expand its technology and customer base.
Future fundraising opportunities seem promising, given the successful Series B round and the increasing interest from major venture capital firms. As Butlr continues to refine its technology and meet the needs of diverse industries, additional funding rounds are likely to support further growth and innovation. The company may also attract strategic partnerships or acquisitions, enhancing its market reach and technological capabilities.
However, Butlr will face challenges such as competition from other AI and sensor technology companies, ensuring data privacy, and maintaining the reliability of their sensors. Addressing these challenges will be crucial as they scale operations and integrate their technology across various platforms and industries.
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