Rithmio co-founders Adam Tilton and Prashant Mehta
Who said tech innovation only happens at Stanford?
Rithmio, a gesture recognition platform founded at the University of Illinois at Urbana-Champaign in 2013, announced that it has secured a $3 million seed round.
The round was co-led by KGC Capital and Intel Capital. They were joined by MAS Capital Pvt Ltd., OCA Ventures, Hyde Park Ventures Partners, Hyde Park Angels, Foley Ventures, MKRC Ventures, Serra Ventures, and New Coast Ventures.
“The funds will help us expand our team with algorithm engineers, Android, iOS, embedded and web developers, and also a business development lead,” said Adam Tilton, CEO & co-founder, Rithmio. “We’ll strengthen our wearable tech partnerships, release our gesture recognition SDK and collaborate with developers to ship products built on Rithmio’s platform.”
Back in September of 2014, Rithmio landed $650,000 in order to grow its team. The now seven-person company is now focusing on developing Rithmio’s core algorithms and SDK, according to a company statement.
After founding the company with Prashant Mehta on the University of Illinois campus, Tilton won the 2014 Cozad New Ventures competition, which enabled the team to open offices in both Champaign, IL and Chicago.
Earlier this year, Tilton and Mehta were also nominated for the 2015 Moxie Award for Best Startup Founder or Co-Founders.
“We’ve benefited from having offices in both Champaign, IL and Chicago,” Tilton said. “We maintain a strong connection to talent from the University of Illinois—and not just engineers, but also design and business students. In Chicago, we’ve built relationships with large corporations, recruited seasoned startup talent and expanded our network of advisors and investors.”
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