Commercial IoT startup Rigado sells Bluetooth tech to Swiss wireless company u-blox
Summary
Rigado, a nine-year-old Portland, Ore. startup that builds commercial IoT products and services, sold a portion of its business to Swiss wireless company u-blox. Rigado sold off its Bluetooth Module business, a group that builds hardware components to enhance wireless connectivity and make it easier to link up Internet of Things devices, the companies said Wednesday. In a post on LinkedIn announcing the deal, Corrado said Rigado co-founder Justin Rigling will stay on at the startup and lead its technical vision as chief technology officer, and Greg Rau will step into the role of president. “We’re very proud of both our market-leading modules division and Rigado’s fast-growing edge infrastructure gateway business,” Rau said in a statement. “The value we capture from the acquisition of the modules division will allow us to further accelerate Rigado’s growth in the gateway market — especially in key solution areas such as smart building and asset tracking.” Rigado was founded in 2010 and it raised a lifetime total of $20 million, including a $15 million Series A round just over a year ago.
