Cradlewise Raises USD 7 Million Funding

Cradlewise Raises USD 7 Million Funding

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Cradlewise, a Silicon Valley-based technology company that makes smart cribs for babies, on Wednesday said it has raised USD 7 million (about Rs 52 crore) in funding, led by venture capital firm Footwork with significant participation from CRV.

Cradlewise Raises USD 7 Million Funding

The seed round also saw follow-on investment from existing investors SOSV and Better Capital, a statement said. Other notable investors participating include Katrina Lake (founder of Stitch Fix), Jeremy Cai (CEO of Italic) and Dilip Goswani (CTO of Molekule), it added.

The funds will be used to accelerate the company’s innovation and technology roadmap and grow their team in India with hires in engineering, software, product, and customer success, it said. Sachin Oswal (Co-founder Infibeam) and Sonny Vu (ex-CEO of Misfit Wearables) have participated in previous rounds of funding.

The company has offices in San Francisco Bay Area, California and at Bengaluru, in India. Cradlewise makes smart cribs with a built-in baby monitor that uses AI to learn the baby’s sleep patterns and adapts to changing needs. The self-learning crib spots the first signs of wakeup of the baby and starts rocking automatically along with soothing music to safeguard sleep. Co-founders Radhika and Bharath Patil invented Cradlewise to solve the sleep challenges they faced when their first child was born.

They are inventors and have created tech that drives drones, robots, and smartphones for companies like Qualcomm and Texas Instruments. “We believe that Cradlewise is uniquely positioned in this competitive space as the only smart sleep product designed to impact an outcome and not just give notifications.

We will continue to lead in this space by expanding the capabilities of the product in the areas of a baby’s health and safety,” Cradlewise co-founder Radhika Patil said. Cradlewise currently ships directly via its website. Plans are also underway to expand availability through other e-commerce websites in 2022.

(PTI)

Story first published: Wednesday, November 10, 2021, 13:19 [IST]

Original news source Credit: www.goodreturns.in



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