Company Overview
Snapshot
Founded in July 2014 by Rami Younes, Rami F. Khawaly, and Noam Levi, MindoLife IoT operates with 11–50 employees. The company has secured $1.25M in total capital across 3 funding rounds. In October 2018, MindoLife IoT received a grant from the Foreign trade - Ministry of economy.
Business overview
MindoLife IoT develops Internet of Things (IoT) devices that connect to building assets via Modbus protocol, providing comprehensive monitoring and control capabilities. Their system incorporates an advanced automation engine that utilizes AI algorithms to manage HVAC systems, aiming to reduce electricity costs by up to 30%. The company serves residential, consumer goods, and industrial manufacturing markets, operating within the Energy Tech and Industrial Technologies sectors.
Strategic signal
In July 2017, MindoLife IoT secured a significant deal with India's SAR Group to supply its IoT technology for integration into SAR's water bars and home-energy systems over three years. This strategic cooperation agreement signals strong international market validation for MindoLife's Cyber-Things products and indicates a substantial growth trajectory through partnerships in emerging markets.
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- What was a significant partnership secured by MindoLife IoT?
- In July 2017, MindoLife IoT secured a $20 million deal with India's SAR Group to supply its IoT technology. This agreement involves integrating MindoLife's Cyber-Things products into SAR's water bars and home-energy systems over a three-year period, indicating a long-term strategic collaboration.
- When did MindoLife IoT receive a grant from the Foreign trade - Ministry of economy?
- In October 2018, MindoLife IoT received a grant from the Foreign trade - Ministry of economy.
- When did MindoLife IoT receive a grant from the Israel Innovation Authority?
- In June 2017, MindoLife IoT received a grant from the Israel Innovation Authority.
- What is the primary benefit of MindoLife IoT's system for energy consumption?
- MindoLife IoT's system features an engine that provides energy-saving automation. By utilizing AI algorithms to smartly manage a building's HVAC system, it can save up to 30% in electricity costs.
- Who are the co-founders of MindoLife IoT?
- MindoLife IoT was co-founded by Rami Younes, Rami F. Khawaly, and Noam Levi.