ECONAIS Completes Series A Investment with Funding from Odyssey Venture Partners

SAN JOSE, Calif. - Oct. 30, 2013 - PRLog -- ECONAIS Completes Series A Investment with Funding from Odyssey Venture Partners

SAN JOSE, Calif., October 30, 2013 -- eConais Inc. (http://www.econais.com), a technology leader in ultra low power miniature Wi-Fi module solutions for the Internet of Things, has completed a Series A investment from the venture capital firm Odyssey Venture Partners to support next generation product offerings, grow the global sales force, and expand distribution networks.

eConais and Odyssey Venture Partners have announced the completion of Series A  investment  from Odyssey Venture Partners.  eConais will use the investment capital to complete the release of Wi2Smart™, its second generation family of modules for Internet of Things (IoT).

Wi2Smart is the smallest device in the world with fully embedded Wi-Fi, TCP/IP network protocol stack, and software functionality for a number of IoT applications. Requiring very little power, Wi2Smart enables reliable and robust Wi-Fi connectivity for portable devices that require years of battery life.

The investment will allow eConais to grow its worldwide sales and distribution networks to service its customers globally with support for new product design-ins.

“Led by a team of Wi-Fi pioneers and supported by excellent industry partnerships, eConais is positioned to play a leading role in the next wave of the Internet of Things. We are excited in helping eConais to enable its customers to deliver a multitude of connected devices, quickly and cost effectively,” said Spiros Trachanis, Managing Partner of Odyssey Venture Partners.

“We are very pleased to announce the completion of our series A financing by Odyssey Venture Partners. This capital investment will help our company launch our world class Wi-Fi module products into volume production and establish sales and distribution channels worldwide. In addition to the invested capital, Odyssey Venture Partners is also a very valuable partner to eConais with substantial experience in pursuing new markets for high technology products”, said Dr. Nick Kanopoulos, CEO of eConais Inc.

About eConais Inc.

eConais is a module manufacturer and solutions company building excellent connectivity technology for the Internet of Things known as WiSmart™. eConais' easy-to-use Software Development Kit lets customers leverage the large installed base of access points and smartphones to create connected products for healthcare, smart energy, audio, and control/monitoring in industrial, commercial and residential markets. The solutions currently feature ultra-low power Wi-Fi modules that only consume a few microamps of standby current and go from standby to active mode in a few milliseconds.  www.econais.com

About Odyssey Venture Partners

Odyssey Venture Partners invests in Greek information and communication technology (ICT) start ups addressing global markets. Specializing in helping "early stage" companies reach customers and partners around the world and "seed stage" companies prove their business ideas, develop early customer references, and produce fundable business plans,  the 'Odyssey JEREMIE Partners' fund is the largest venture capital fund exclusively focused on ICT investing in Greece.  www.odysseyvp.com

Company Contact

Brent Ward

Marketing

(919) 345-2336

bward@econais.com

SOURCE eConais Inc.

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