Nanit, the US-based baby monitor developer backed by supply chain services provider Flex, has raised $14m in a series B round led by venture capital firm Jerusalem Venture Partners (JVP).
Upfront Ventures, RRE Ventures, Vulcan Capital and Vaal Investment Partners also took part in the round. Erel Margalit, JVP’s founder and chairman, will join the company’s board of directors.
Nanit has created a smart baby monitor that incorporates computer vision, sleep tracking and camera sensor technology to allow parents to get a more in-depth picture of their child’s sleep patterns.
The funding will go to product development as Nanit also looks to hire more engineers for its computer vision and machine learning teams.
Nanit said the round increased its total funding to almost $30m, Flex having invested in a $6.6m series A round in mid-2016 led by Upfront Ventures and backed by RRE Ventures, 645 Ventures, Jacobs Technion-Cornell Institute and AME Cloud Ventures.
– Image courtesy of Nanit.