Rithmio Startup

Founded on the University of Illinois at Urbana-Champaign’s campus, Rithmio focuses on building a platform that assists in generating precise gesture-based products. Co-founders Adam Tilton and Dr. Prashant Mehta first thought of their idea for Rithmio in July 2013 while attending I-Corps, a training program on campus for entrepreneurs to identify potential customer segments for their startup.

Rithmio’s software has two features that set it apart: it can be trained by the user for new, user-defined gestures, and once trained, it can accurately distinguish the gesture being performed and provide precise analysis of how the gesture compares to a baseline. Brands can utilize Rithmio’s software to create accurate and personalized gesture-based products such as wearables, smartwatches or connected sports equipment.

Tilton states, “Rithmio pushes the boundaries in the gesture recognition market by providing advanced gesture recognition as a platform. Our software libraries are built to run on any platform, including wearables, smartphones, or any other connected motion sensing devices. The result is an open platform that enables brands to create accurate gesture-based products efficiently.”

Rithmio Co-founders, Dr. Prashant Mehta (left) and Adam Tilton (right)
Rithmio Co-founders, Dr. Prashant Mehta (left) and Adam Tilton (right)
 
From a promotional video for Rithmio software and its benefits
From a promotional video for Rithmio software and its benefits
The University played an important role in their success. Adam Tilton stated in a July 20, 2015 Built in Chicago article, “The University of Illinois does a ton to support entrepreneurs. One of the premier academic institutions in the world lies just two hours outside of Chicago, and we’re lucky enough to have Chicago investors who really want to keep that tech talent here in the Midwest.”

The Rithmio team won the Technology Entrepreneur Center’s Cozad competition in 2014, in the University funded track. The funds they won from Cozad enabled them to open offices in both Champaign and Chicago. Cozad was a turning point for Tilton and Mehta. “Cozad was an awesome experience! If we didn’t do Cozad, we wouldn’t be where we are today. Having a chance to present your idea to a room full of investors and be able to hear their feedback was an unbelievable experience,” said Tilton.

In August 2014, they raised $650K in seed funding. The $650,000 seed round of financing was led by Marcin Kleczynski, CEO of Malwarebytes, with Illinois Ventures, Techra Investments, Hyde Park Venture Partners, Serra Ventures, BonaVentura and Fox Ventures also participating in the investment along with angel investors.

The Rithmio Team
The Rithmio Team
Then, in June 2015, they secured a $3 million in seed funding. The seed 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.

To learn more, visit http://rithmio.com/