Viam Raises $30 Million to Grow Data/AI Engineering Platform
Viam, which bills itself as an “engineering platform for data, AI and automation,” has raised $30 million in new funding.
The company, led by MongoDB co-founder Eliot Horowitz, announced the Series C financing in a Monday (March 3) news release, saying it brings its total funding to $117 million.
“Viam is bridging the critical gap between AI, data, and the countless devices we interact with every day,” said Albert Wenger, partner at Union Square Ventures, which led the funding round. “Eliot and his team are building a world-class operation in New York City, and we’re thrilled to continue supporting them.”
The Viam platform, per the release, lets hardware and software engineers work together on technology solutions that can be “implemented across devices and smart machines in the physical world.”
According to the release, the funding follows a year in which Viam expanded its customer base in sectors like robotics, quick-service restaurants, climate tech and industrial manufacturing.
These ventures, Horowitz wrote on the company website, demonstrate that “AI is neither a trending topic nor a dystopian vision but a real-world, real-life way to bring data and automation into the physical world to help companies succeed.”
The company also launched a partnership in October with the New York Islanders and UBS Arena, becoming that venue’s official AI technology partner.
Viam says its other clients include Sbarro, nuclear engineering company Transmutex, autonomous robotic kitchen company Appetronix and workplace safety platform CompScience.
Joining in the round was European investment group Neurone, which will help Viam reach potential partners in the region, especially within Italy’s industrial sector.
In related news, PYMNTS wrote recently about findings from a new report, “How People Pay: Consumer Preference for Connected Technology,” which explores how device ownership is shaping payment behavior and what it means for financial services professionals.
“This isn’t just about smartphones anymore,” the report says. “Consumers are accumulating an array of connected devices, from smartwatches and tablets to voice-activated speakers and even cars with built-in capabilities.”
As PYMNTS wrote, there are now some brilliant innovations in the smart/connected device world, such as the LG refrigerator that connects to Instacart. At the same time, there are other “connected” products “that have us shaking our heads,” the report added. These include a voice-activated toilet and a toaster that can burn user photos onto pieces of bread.
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