Industrial wireless automation solutions provider CoreTigo has announced the close of its strategic and financial investment round. Accordingly, global technology and software leader Emerson Electric Co., through its corporate venture capital arm Emerson Ventures, joined CoreTigo’s portfolio of investors.
Other distinguished investors include Cardumen Capital, Magma Venture Partners, Meron Capital, Qualcomm Ventures LLC, Sierra Ventures, Verizon Ventures, and Meitav Dash Investments.
CoreTigo offers a unique solution for factory digitization and automation. Moreover, it is the first wireless technology designed to meet the latency, reliability, and scalability criteria for industrial manufacturing. With CoreTigo’s IO-Link Wireless solutions, machine builders and manufacturers can connect devices. Previously, such functionalities were impossible. In addition, they can collect data from any machine in the most challenging areas. At the same time, reach new levels of control flexibility over their machinery and equipment.
CoreTigo’s solutions are addressing a variety of industries, enabling machines and production lines to do more by expanding both their flexibility and capacity in a cost-effective manner. Smart industrial-grade and ultra-reliable wireless communication for control and monitoring is enabling applications that are further driving operational efficiency, production, and machine optimization. In addition, it offers higher availability, footprint and energy consumption reduction, and greater intelligence to manage the business.
“As connectivity within discrete and hybrid architectures evolves to be more seamless, we see great promise for CoreTigo’s wireless technology to create significant value in transforming the way industry approaches automation,” said Thurston Cromwell, Vice President of Development and Innovation and Head of Emerson Ventures.
Meanwhile, Eran Zigman, CoreTigo CEO, said, “With the vote of trust from an industrial leader such as Emerson, we are further advancing our mission of setting a new, revolutionary standard for operational efficiency and enabling the full realization of the 4th industrial revolution.”
In addition, Zigman said, “CoreTigo is enabling high-performance and adaptive manufacturing which is opening the door to mass customization and fully automated production.”