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Sep 21, 2022, 11:00 ET
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Emerson has made an investment through Emerson Ventures, its corporate venture capital arm, joining CoreTigo’s financing round to reach the full potential of Industry 4.0 and further drive industrial wireless automation
NETANYA, Israel, Sept. 21, 2022 /PRNewswire/ — CoreTigo, the industrial wireless automation solutions provider, today announced the close of its strategic and financial investment round. Via Emerson Ventures, its corporate venture capital arm, global technology and software leader Emerson 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 factory digitization and automation. It is the first, fully operational wireless technology designed specifically to meet the latency, reliability and scalability criteria for industrial manufacturing. With CoreTigo’s IO-Link Wireless solutions, machine builders and manufacturers can connect devices that were previously impossible to connect, collect data from any machine in the most challenging areas, and reach new levels of control flexibility over their machinery and equipment.
CoreTigo’s solutions are addressing a variety of industries, enabling machines and production lines to do more by expanding both their flexibility and capacity in a cost-effective manner. Smart industrial-grade and ultra-reliable wireless communication for control and monitoring is enabling applications that are further driving operational efficiency, production and machine optimization, higher availability, footprint and energy consumption reduction, and greater intelligence to manage the business.
“As connectivity within discrete and hybrid architectures evolves to be more seamless, we see great promise for CoreTigo’s wireless technology to create significant value in transforming the way industry approaches automation,” said Thurston Cromwell, Vice President of Development and Innovation and Head of Emerson Ventures.
“With the vote of trust from an industrial leader such as Emerson, we are further advancing our mission of setting a new, revolutionary standard for operational efficiency and enabling the full realization of the 4th industrial revolution” says Eran Zigman, CoreTigo CEO, “CoreTigo is enabling high-performance and adaptive manufacturing which is opening the door to mass customization and fully automated production.”
About IO-Link Wireless
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 – both wired and wireless.
CoreTigo enables faster and more flexible manufacturing by providing high-performance machine digitalization, wireless connectivity and edge solutions for machine builders, system integrators and industrial equipment manufacturers. CoreTigo’s products enable the design and retrofit of machines and production lines that were not possible before. These solutions increase flexibility, adaptivity and modularity, resulting in cost effectiveness, increased productivity and downtime reduction. Embraced by industrial leaders, CoreTigo’s solutions are based on the IO-Link Wireless global standard, which is fit for harsh factory environments and motion control applications, providing the most reliable wireless connectivity for millions of sensors, actuators and industrial devices worldwide.
Emerson ( NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and software company providing innovative solutions for 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 their sustainability goals through its Automation Solutions and AspenTech businesses. Emerson’s Commercial & Residential Solutions business helps ensure human comfort and health, 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
Cision Distribution 888-776-0942
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