Noveto: Closes $10M Bridge Funding
- Noveto Systems, a Tel Aviv, Israel-based maker of a device to listen to audio, raised $10M in bridge funding
- Adit Ventures made the bridge investment as part of a Series A funding to raise an additional $20m by year-end
- In conjunction with the funding, Eric Munson, Founder, and CEO, Adit Ventures, joined the company Board of Directors
- The company intends to use the funds rapid expansion, with plans to triple the headcount over the next year, opening a US office
- The company is a device is a smart assistant compatible, connecting to a smart home network
- The desktop device comes alive with the backing of engineering partner Foxconn, a consumer electronics manufacturer
