Taiwan-based wearable tracking device maker Athentek raised $7m in a series A round led by contract electronics manufacturer Foxconn.
Household product sourcing specialist Testrite Group, semiconductor producer MediaTek and CSVi Capital also took part in the inaugural round alongside other, unnamed investors.
Athentek’s main product is a smart tracking device called Circo, which uses technologies such as GPS, AGPS, WiFi and Cell ID to allow parents to keep tabs on the movement of their children and other family members by logging behavioural patterns and storing information in the cloud.
Limitations can be set using the app to signal to parents if their child is leaving a designated area. Athentek will use the funding to expand its design and research teams in Taiwan and the US, while exploring international business development.
Yi-Hsiu Wang, Athentek’s CEO, said: “We are very excited to launch Circo, a smart tracker pushing user experience to the next level with intelligent positioning and behavioural analysis algorithms.
“We are equally thrilled to be recognised by these industry leaders participating in our first round of financing. Our goal is simply to make everyday life easier and safer.”