Ray IoT raises funds from Chinese investors

Bengaluru-based baby monitoring technology solutions Ray IoT has raised $100,000, or about Rs 66 lakh, from the Shenzhen and San Francisco-based HAX Accelerator in its seed funding. HAX is one of the largest hardware startup accelerators and seed investors in the globe and this is their first investment in India.

Ray IoT is founded in 2015 by Ranjana Nair, Kannan Natarajan, Aardra Kannan Ambili, and Sanchi Poovaya. Speaking about recently raised funding, Ranjana Nair, co-founder of Ray IoT said, “We hope to get manufacturing and design expertise (of HAX community) to assist us. We are also getting a lot of inputs and help on our business model, positioning, branding and product design from seasoned experts all the way through launch and manufacturing.”

Post funding, the startup has relocated to Shenzhen, China for 111 days to be a part of the HAX Accelerator.