Tile acquires new investment funding to the tune of US$40 million
The launch of Apple's AirTags may have come as a blow to Tile, which may have heretofore been a go-to for iOS users to secure and, if necessary, track their possessions. Nevertheless, the more established brand asserts that it is still doing well, having posted revenues that have grown by 50% year-on-year.
Tile has also reported that it has now sold over 40 million of its devices. These, as the OEM points out, are more universal across platforms, and come in a range of form-factors, from those that can be stuck onto other objects to those that can be integrated into third-party products.
To that end, Tile has partnered with brands such as Fitbit to boost their anti-theft or anti-loss attributes. (Then again, Apple has indicated it is working on different types of AirTags as well). Tile also offers paid subscription services, which, as it claims, have been taken up over 425,000 times by now.
Stats such as these may have helped the company attract a significant round of funding. It is reportedly worth US$40 million, sourced from the firm Capital IP. Furthermore, Tile has announced this major new investment has come just in time for the launch of its latest products, now set to take place in October 2021.