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Flybits announces second closing of $4.75M Series A financing

Vodafone expands Toronto-based company’s global partners to advance mobile platform offerings

Flybits Corporate LogoTORONTO, April 28, 2015 – Vodafone, one of the world’s largest global mobile carriers, has led a second closing of Flybits’ Series A round through Vodafone Ventures. The announcement builds on Flybits’ previously announced Series A financing in August 2014, which was led by Robert Bosch Venture Capital and Trellis Capital.

This announcement was covered in the Financial Post, TechVibes, PE HUB and BetaKit.

As an innovative software-as-a-service (SaaS) company, Flybits enables consumer-focused enterprises to expand and manage mobile experiences that deliver targeted content and services. Its platform enhances mobile services to deliver a better customer experience, drive sales and capture analytical insight to establish a competitive advantage. The Flybits solution is easy to deploy, user-friendly and scalable.

“We’ve enjoyed an excellent partnership with Vodafone since beginning an incubation project with them almost two years ago,” said Dr. Hossein Rahnama, founder and chief product officer of Flybits. “They helped us make our product carrier-grade, and this investment will allow us to leverage their presence in more than 21 countries. With the support of our strategic investors, Bosch and Vodafone, our plan is to become the leading platform for companies to develop and deliver intelligent and context-aware mobility solutions.”

“I congratulate Flybits on today’s announcement,” said the Honourable Ed Fast, Minister of International Trade. “Flybits has used many of the services our government offers to help Canadian businesses succeed abroad including the Canadian Technology Accelerators (CTA). Through our network of Trade Commissioners and various programs, this government is committed to helping companies such as Flybits grow beyond our borders to expand globally, creating jobs and economic prosperity across Canada.”

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Robert Bosch Venture Capital leads $3.75 million Series A round for Flybits

Toronto start-up to advance context-aware mobile experience platform

Flybits Corporate LogoTORONTO, Canada (August 20, 2014) — Flybits Inc., a Toronto start-up that has created a context-aware experience development platform for mobile environments, has closed a $3.75 million Series A financing. Led by Robert Bosch Venture Capital GmbH (RBVC) and Trellis Capital Corporation with participation from MaRS Investment Accelerator Fund and Ryerson Futures, Inc., the investment will advance the company’s product development and international growth in the United States and Europe.

This announcement was covered in the National Post, TechVibes, Fortune Magazine‘s Term Sheet Blog (Dan Primack), BetaKit, Yonge Street Media and PEHub.

Since spinning off from Ryerson University in 2012, Flybits has raised a total of $4.05 million to date, including a seed round from MaRS Innovation. Flybits technology has been used in developing smarter cities, connected stadiums, smart corporate campuses, shopping malls, conference venues and even fashion shows. The company also concurrently incubated its technology at the Ryerson Digital Media Zone in Toronto and Vodafone Xone in Redwood City, California.

“Flybits is RBVC’s first investment in Canada,” said Luis Llovera, managing director of Robert Bosch LLC based in Palo Alto, California. “The company has demonstrated a unique and innovative approach in building foundational technology to deliver Contextual Mobility Services for both display-driven devices and for the emerging Internet of Things applications. Flybits’ strong roots in tangible and high impact R&D, their ability to predict the required infrastructure for the industrial Internet and their global entrepreneurial ambitions were some of the reasons we were attracted to this company.”

“Involving high-quality investors such as Bosch and Trellis demonstrates the potential in our unique approach to designing Intelligent Mobility Solutions that are intuitive and scalable,” said Dr. Hossein Rahnama, CEO and founder of Flybits. “In particular, having Bosch as a strategic investor means we leverage their global expertise in software automation, connected communities and sensor technologies as we support new and existing international customers, and scale and develop both our team and our products.”

“Recognizing the Flybits’ platform potential to create next-generation mobile experiences at an early stage, MaRS Innovation worked closely with Flybits to launch the company and secure initial market traction,” said Dr. Raphael Hofstein, president and CEO of MaRS Innovation.

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