- March 15, 2019
- Posted by:
- Category: venture capital funding
Fi is announcing it's Series A capital raise of $7M led by RRE Ventures with participation from existing seed investors Lerer Hippeau, Freestyle VC, and other prominent tech investors bringing its total funding raised to date to $10M.
Founded in 2017, Fi was started by Jonathan Bensamoun (Product at Square & Handy) and co-founder Loren Kirkby (Chief Architect Dropcam Acq. By Nest) to build the best-looking dog collar capable of accurately tracking your dog for weeks between charges.
Of the over 100 million dogs in the US 1 in 3 dogs will go missing at some point during their life. Microchips are just a dog tag. People think they can call their vet and locate their dog but that's not how it works. Fi created technology to alert owners of escaped dogs and help locate them hours before they are picked up by a shelter or animal control, or worse.
"Two years ago I got my dog Thor – I found out that my dog walker was 'taking shortcuts', so I decided to track Thor's walks. I also wanted to let him run freely and play in the backyard without worrying that he could escape. There was no product that was elegant, worked properly and that did not have to be recharged weekly. I knew we had to fix this." says Jonathan. After spending over 18 months on product development, Fi was born.
"As an investor and an animal lover, I have been searching for a technology like this for a long time," says Stuart Ellman of RRE Ventures. "The battery life of the other smart collars we have seen has never been impressive. I'm so excited to finally add a company like Fi to our portfolio of great pet technology companies like BARK and Wag."
"We're repeat investors in and remain bullish on the growing pet space," says Andrea Hippeau, Investor at Lerer Hippeau. "We really believe that millennials, in pushing off having kids, are treating their dogs like their children. Jonathan and Loren have a great combination of hardware and consumer expertise from their time at Square and Dropcam. It's really important to have this vital experience to bring a next generation hardware product to the market."
Fi is the world's first LTE-M dog collar. Instantly track your dog's location no matter where they are in the US (subscription required).
3 MONTH BATTERY LIFE
Fi research shows that battery life is the #1 concern from dog owners. By leveraging the new LTE-M low power network from AT&T, Fi's collar lasts on average 3 months between charges.
LOST DOG MODE
If your dog escapes, the Fi Collar will detect it and notify owners and dog walkers instantly. A light will also turn on to make the dog easier to spot at night.
Fi measures the steps your dog takes. Set daily, weekly and monthly goals to hit, and compare them to other dogs wearing the Fi collar.
WORLD CLASS DESIGN
The Fi Collar was born in the studio of famous industrial designer Fred Bould who shaped other consumer products of fame like the Nest Thermostat, the Roku, the Eero, and the GoPro Camera.
Available now on Fi's website http://tryfi.com for $149. Optional GPS/LTE subscriptions range from $1.59 – $1.89 per week. The collar is designed for dogs with necks that are 13.5" to 34.5" (about 80% of dogs). The free mobile application is available for iOS and Android phones.
Founded by Jonathan Bensamoun (Product at Square & Handy) and Loren Kirkby (Chief Architect at Dropcam Acq. by Nest) in 2017, Fi is re-inventing the relationship between dogs and their humans with technology. Fi's GPS & LTE-M enabled Smart Collar lets dog owners keep their best friend safe and in good health, monitor their behavior, and leverage data to create a stronger bond. Fi is headquartered in DUMBO, Brooklyn, and currently hiring (dogs welcome). For more information, see https://tryfi.com.
|14/03/2019||$7,000,000||Series A||Freestyle VC, Lerer Hippeau Ventures, RRE Ventures||RRE Ventures|