To Be srl, an innovative Italian SME specialized in the development of solutions for the transmission of data and information via LED light ( LiFi ), has exceeded the maximum established target of 900,000 euros for the crowdfunding campaign on Mamacrowd, closing the round with 1 million euros from 178 investors.
Institutional investors including AZIMUT ELITF – Venture Capital ALIcrowd III and Magic Spectrum , an accelerator dedicated to the connectivity of the National Accelerator Network of CDP-Cassa Depositi e Prestiti, also believe in the company, whose technology allows data to be transmitted through LED light. , Digital Magics and Fondazione Compagnia San Paolo .
The funds raised will be invested mainly to strengthen the company structure in different areas.
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How the funds raised will be invested
To Be is looking for talents to join the team with an international background, possibly with experience in terms of scale up in the ICT sector.
In the technical area, the objectives will be to accelerate the developments of the LiFi Zone platform, improving the services already present and generating revenues and developing new features to expand the range of services provided by the platform, with a strong focus on people with disabilities.
In the marketing area the objective is to scale the solution commercially on the target markets by diversifying the offer on the various sales channels, direct and indirect. In fact, several resources will be invested in the creation of strategic and commercial partnerships with players in the TLC sector, System Integrators as well as large design studios.
Furthermore, the company will allocate part of the resources available to begin to appear on international markets starting from some European countries where good channels have been created. However, the true internationalization of the company and related commercial scale up will be the subject of a future round, within the next 24 months.
Francesco Paolo Russo, Founder & CEO of To Be Srl declared: “ LiFi Zone is only the first piece of a broader plan that will open the doors of a new era in which light becomes a source of data and information. We offer a sustainable and socially useful solution in different sectors, both in the public and corporate world.”
Who is To Be
To Be, was created in 2016 from the vision of Francesco Paolo Russo and from Raniero Pani ‘s twenty-year experience in the lighting and home automation sector , it already boasts strategic and commercial partnerships and collaborations with industry leaders such as Signify (formerly Philips Lighting), multinationals in the TLC sector and System Integrator.
In addition to having obtained a pre-seed round of 75,000 euros from Magic Spectrum , an accelerator dedicated to the connectivity of the National Accelerator Network of CDP Cassa Depositi e Prestiti , managed by Digital Magics . To Be has also obtained non-repayable public funding of around 266,000 euros.
In fact, To Be’s development projects and LiFi solutions fully respond to the main European and PNRR technological and financing trends that embrace ecological, digital and network infrastructure transition missions.
Where to find To Be’s LiFi
With its over 200 active LiFi points in museums, hospitals, schools and offices, To Be has achieved important national goals such as the implementation of the LiFi Zone ® in Pompeii, thus transforming it into the first archaeological site equipped with LiFi technology.
Or the ASL Napoli 2 Nord , with the first LiFi hospitals in Italy and Europe, or the Istituto Comprensivo Rosetta Rossi in Rome , the first LiFi school in Italy.
How LiFi Zone ® works
LiFi Zone is based on a cloud infrastructure capable of scaling rapidly. It allows remote access at any time to manage and monitor all the functions associated with the LiFi light points in the various sites of interest.
The architecture of the solution includes a software component , i.e. an app developed specifically to enable the devices to receive the signal and the installation of a hardware component , i.e. LED lighting bodies equipped with a particular LiFi modulator thanks to which the same light that illuminates an environment conveys information directly to people’s smartphones.
This technology, precisely because of its innovative data transmission characteristics, finds application in the most disparate environments: museums, archaeological parks, schools, hospitals, retail, offices, places sensitive to radio waves and from the point of view of Cyber Security.
It can function, in its various declinations, both as an indoor navigation system in which the user, moving within an environment, receives timely information and is able to be guided along a route, and as a wireless connectivity system as if it was WiFi but via electricity.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Crowdfunding buzz. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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