Bangalore-based hardware startup Ray IoT has raised $100,000, or about Rs 66 lakh, from Shenzhen and San Francisco-based HAX -one of the world’s largest hardware startup accelerators and seed investors. As part of the deal, Ray IoT has relocated to Shenzhen, China for around three months to be a part of the flagship HAX Accelerator programme.
Founded in 2015 by Ranjana Nair, Kannan Natarajan, Aardra Kannan, and Ambili Sanchi Poovaya Ray IoT creates AI-based sleep monitoring solutions for babies. The startup will use the funds to create a working prototype of its baby monitoring devices.
