Emerson made an investment by Emerson Ventures, its venture capital subsidiaryjoining CoreTigo’s funding round to realize the full potential of Industry 4.0 and further drive industrial wireless automation
NETANYA, Israel, September 21, 2022 /PRNewswire/ — CoreTigo, the provider of industrial wireless automation solutions, today announced the closing of its strategic and financial investment round. Through Emerson Ventures, its corporate venture capital arm, global technology and software leader Emerson has joined CoreTigo’s portfolio of distinguished investors, including Cardumen Capital, Magma Venture Partners, Meron Capital, Qualcomm Ventures LLC, Sierra Ventures, Verizon Ventures and Meitav Dash Investments.
CoreTigo offers a unique solution for digitizing and automating factories. It is the first fully operational wireless technology designed specifically to meet the latency, reliability and scalability requirements of industrial manufacturing. With CoreTigo’s IO-Link wireless solutions, machine builders and manufacturers can connect devices that were previously unconnectable, collect data from any machine in the toughest areas, and reach new flexibility levels of control over their machinery and equipment.
CoreTigo’s solutions address a variety of industries, enabling machines and production lines to do more by increasing both flexibility and capacity in a cost-effective way. Intelligent, industrial-grade, ultra-reliable wireless communication for control and monitoring enables applications that further improve operational efficiency, production and machine optimization, higher uptime, reduced footprint and energy consumption and greater intelligence to run the business.
“As connectivity within discrete and hybrid architectures evolves to become more seamless, we believe CoreTigo’s wireless technology holds great promise for creating significant value by transforming the way the industry approaches automation,” said declared Thurston Cromwellvice president of development and innovation and head of Emerson Ventures.
“With the vote of confidence from an industry leader like Emerson, we are advancing our mission to set a revolutionary new standard of operational efficiency and enable the full realization of the 4th Industrial Revolution,” says Eran ZigmanCEO of CoreTigo, “CoreTigo enables high-performance, adaptive manufacturing that opens the door to mass customization and fully automated production.”
About Wireless IO-Link
IO-Link Wireless is a deterministic, low latency (5 msec), highly reliable and scalable universal wireless communication protocol. Based on the IO-Link IEC 61131-9 standard, it is designed specifically for factory automation, coexisting with other networks – wired and wireless.
CoreTigo enables faster, more flexible manufacturing by providing high-performance machine scanning, wireless connectivity, and state-of-the-art solutions for machine builders, system integrators, and industrial equipment manufacturers. CoreTigo’s products enable the design and modernization of machines and production lines that were not possible before. These solutions increase flexibility, adaptability and modularity, which translates into profitability, increased productivity and reduced downtime. Adopted by industry leaders, CoreTigo’s solutions are based on the global IO-Link wireless standard, suitable for harsh industrial environments and motion control applications, providing the most reliable wireless connectivity for millions of sensors, actuators and industrial devices in the world.
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and software company that provides innovative solutions to customers in industrial, commercial and residential markets. A leader in industrial automation, Emerson helps process, hybrid and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve sustainability goals through its Automation Solutions and AspenTech businesses. Emerson’s Commercial & Residential Solutions business helps keep people comfortable and healthy, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information, visit Emerson.com.
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Mr. Roy Glas
Marketing Manager, CoreTigo