Everactive, a technology company that sells category-defining batteryless, wireless Internet of Things (IoT) solutions, has raised $16 million in a strategic funding round from 3M; Ericsson and Armstrong International. 3M, Ericsson and Armstrong were all either existing customers or partners prior to investing in Everactive. This round builds on the Series C financing completed earlier this year – bringing the Series C total funding to over $50 million.
This investment marks major votes of confidence from highly trusted industry brands. For 3M, the investment deepens an existing relationship – improving the efficiency of the company’s manufacturing operations by utilizing Everactive’s monitoring solutions. Ericsson is interested in seeing novel wireless technologies, such as Everactive’s, developed for further strengthening the support of IoT use cases using mobile communication infrastructure. For Armstrong, this investment marks an opportunity to expand its existing partnership with Everactive – combining its deep thermal expertise with Everactive’s technology to make steam systems smarter. Overall, the funding will fuel the expansion of Everactive’s batteryless technology, which stands to drive an enormous scale for smart Internet of Things (IoT) products that is simply not possible with battery powered sensors.
“The breadth of industries that Everactive’s investors represent signals the exciting promise of the application of this technology across a variety of sectors,” said Bob Nunn, CEO at Everactive. “We will leverage the funding to grow an ecosystem through which Everactive’s technology will enable a wide array of high-value, high-volume solutions across industries including manufacturing, food and beverage, CPG, pharmaceutical and biotechnology, petrochemical, oil and gas and more.”
Everactive’s proprietary ultra-low-power technology is the foundation for completely batteryless and wireless IoT solutions. Requiring up to 1,000x less power than competing offerings, Everactive’s real-time asset monitoring solutions operate entirely—and continuously—from low levels of “harvested energy.” Wireless IoT sensors that never require battery maintenance can be deployed at a scale not possible with batteries in order to generate massive new data sets that unlock high-value operational insights for enterprises.