Trillbit Raised Seed Funding From Refex Capital And Good Growth Capital
Sep 8, 2021
Trillbit’s vision is to disrupt the IoT and smart devices market with ultrasonic “Audio QR code” to enable proximity authentication and information exchange seamlessly without additional hardware.
New York City, New York Sep 7, 2021 (Issuewire.com) - Trillbit ( a Techstars and Cisco-backed company) has paved the way for a revolutionary technology that sends data over sound (an acoustic channel to enhance end-user experiences and add value to existing hardware). Any existing device that has a microphone can operate with no added infrastructure.
The startup was founded by IIT Kharagpur and ISB alumnus- Bhaskar Deo, Shashikant Burnwal, and Mrigesh Parashar. The company is aiming to disrupt the authentication space by creating the "Internet of Sound". They use standard audio speakers and smart devices like smartphones to send data over sound. Trillbit's proximity intelligence platform lets devices communicate and authenticate without the need for the internet or any additional hardware.
Recently, the company raised a seed fund of $1.5M from Refex Capital (Chennai, India) and Good Growth Capital (Boston, USA). Refex Capital is an early-stage venture fund based out of Chennai, India, founded by Anil Jain. Good Growth Capital (GGC) having its offices in Boston and Charleston is an early-stage venture capital firm known for its exceptional expertise in finding, cultivating, and assessing complex science and technology start-ups.
Sridhar Parthasarthy, Managing partner of Refex Capital commented on the investment "Globally, the adoption of newer technologies is happening at a pace never seen before. This has been made possible by smarter and cost-effective IOT devices which according to a global study are expected to triple from the current level by 2025. A strong foolproof authentication mechanism and a seamless provisioning process have become two important prerequisites and we see Trillbit's compelling solution providing frictionless connectivity playing a significant role in addressing this. Our interaction with some of the global tech majors reinforces this. We are quite impressed with the Trillbit's team and are excited to be part of this journey"
Trillbit is reinventing how we connect with the world, making it contactless and more secure amidst the post-pandemic era. It is rapidly gaining traction and working with several companies in India and the US for various applications ranging from device provisioning and device authentication.
"Trillbit's aim is to lead the IoT authentication space with the most secure and seamless solution, and the funds will be used for business development activities in the USA and other geographies. Not only will we be catering to existing use cases of device setup and authentication but we see a bigger opportunity here. Voice commerce is expected to explode and so are deep fakes which is a big problem for voice commerce. We are the only protocol that is PSD2 compliant and truly brings authentication to voice commerce and circumvents deep fakes." says CEO, Bhaskar Deo.
Media Contact
ADLUMINO
Unit 3A-01A, Level 3A, Glo Damansara, Jalan Damansara
Source :Trillbit Inc
This article was originally published by IssueWire. Read the original article here.
More News
Tesla Debuts 2026 Roadster ‘Flying’ Electric Sports Car
Elon Musk’s company and other automakers, like Jaguar and Bentley, are trying to sell very expensive electric cars to people who usually prefer gasoline-fueled luxury and performance.
Trump Hasn’t Lowered Drug Prices for These Voters
President Trump has been promoting his efforts to reduce drug prices, but many Americans have not seen relief from rising costs for prescriptions and insurance premiums.
Fuel costs squeezing margins for some businesses
Diesel recently topped £2 per litre and there is concern that a duty freeze will not go far enough.
'TV and cheap booze' blamed for landlord quitting
Lincolnshire has lost 27% of its pubs and bars since 2009 and some are calling on the government to act against cheap supermarket booze.
Ship attack reports near Hormuz reach record high as oil exports slow
BBC Verify analysis of data from a UK maritime agency shows 12 vessels were struck in a week.
Netflix Replaces Bela Bajaria as Chief Content Officer
Peter Rice, a former executive at Disney and Fox, will take over from Bela Bajaria, who had held the job since 2023.
Living with a stink? Technology might help
Smells from rubbish dumps and industrial facilities are being more carefully monitored.
I find it quite demoralising in store - why I do all my shopping online
After Primark announced plans for home delivery, we hear from women who never go into clothes stores.
Gulf Oil Is Still Flowing Despite a Surge in Attacks on Ships
Shipping operators are braving the Strait of Hormuz, but the risks are high and transportation costs have skyrocketed.
Tech Stocks Drop Further Amid Doubts Over AI Spending
Tech stocks plunged before reversing course, as concerns over soaring A.I. spending and stubborn inflation fueled a sell-off.
'I'd spend $1,000 on a wedding present'
New Yorkers share how much they spend on a wedding gift - and how they decide.
Homeownership Drifts Further Out of Reach as Mortgage Rates Rise
Mortgage rates have pushed above 7 percent and home prices remain elevated, hurting the prospects of would-be buyers.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.