# Xyte

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/xyte

- Industry: Software
- Headquarters: Tel Aviv, Israel
- Website: www.xyte.io
- Total disclosed funding: $26M
- Latest round: Series A (Jan 16, 2024)
- Investors on record: 4

## About

Founded in 2019 and based in Tel Aviv, Israel, Xyte Technologies Ltd., f.k.a SyncPro and a.k.a Xyte operates as a developer of a cloud-based platform for hardware manufacturers that bridges the gap between hardware devices and modern cloud applications. In January 2024, Xyte raised USD 30 million in series A and debt funding led by new investor Intel Capital, with participation from new investors Samsung Next and BlackRock and returning investors S Capital and Mindset Ventures. The company is led by Co-founder and CEO, Omer Brookstein. 

Xyte offers hardware manufacturers an end-to-end cloud-based platform, Connected Device Management Platform (CDMP), an integrated solution that allows hardware manufacturers to manage, monitor, service, analyze, and commercialize their connected devices, all in one place. The platform can be used by C-Suite and Corporate Innovation Centers, Product & R&D teams, Operations & Support teams, and Sales & Marketing teams within the industrial OEM & robotics industry, Smart Buildings, Workplace Technology, and Managed Service Providers & channel partners sector. The HaaS business model offers manufacturers potential for growth. It allows customers to elastically scale their products while helping manufacturers simplify their inventory management.

The company generates revenue through a subscription-based model ranging from USD 1,499/month to USD 3,499/month and above for Standard, Premium, and Enterprise plans.

Xyte plans to use its January 2024 funding to expand its market across North America and Europe.

## Funding rounds

- Series A, Jan 16, 2024, $20M — Intel Capital, Mindset Ventures, Samsung NEXT Ventures, S Capital VC
- Seed, Nov 9, 2021, $6.4M — S Capital VC

## Investors

- S Capital VC (https://capitalatlas.ai/funds/s-capital-vc) — Seed, Series A
- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series A
- Mindset Ventures (https://capitalatlas.ai/funds/mindset-ventures) — Series A
- Samsung NEXT Ventures (https://capitalatlas.ai/funds/samsung-next-ventures) — Series A