Lyt, the startup that enables insurance companies to monitor homes and offices

Established by three guys from Turin in Silicon Valley, the company has created a building automation platform to manage the IoT protocols. It got an investment of 1.1 million dollars from Aizoon, becoming industrial partner for cyber security and big data

Published on 27 Jul 2016

Lyt, IoT startup founded by three guys from Turin in Silicon Valley, operating thanks to Alyt technology, in the industry of the Internet of Things, is ready to be launched: it obtained an investment of 1.1 million dollars from Aizoon, high-tech company based in Turin and operating at international level, with which it develops an industrial partnership about big data, cyber security and IoT too.

“The IoT market will be the next big thing and who wants to play a key role, will have to meet and reassure customers on two leading points: cyber security and big data analysis. Aizoon has two business units specialized on these topics. Their input will allow Alyt to expand the offer and increase our market position. Thanks to their support we can continue to focus on the development of the platform, in order to offer their customers, IoTready to use solutions to enable them to get instant access to this new emerging market”, said Luca Gaetano Capula, Lyt Ceo, in an interview with EconomyUp.

Alyt technology is able to handle the most widely used protocols in the field of IoT for building automation and enables any sort of “smart” objects or devices in your home or office, to communicate to each other. The purpose is to host an even growing number of value-added third-party services and integrate new solutions end users oriented.

Including solutions for insurance sector. Luca Gaetano Capula, CEO, said InsuranceUp: ” ALYT enables insurance carriers to have a timely and consistent perception of what happens in customers’ homes, offices or shops. A gas leak, a broken pipe, a blaze, a break-in attempt, can be immediately detected, allowing an intervention which limits or even cancel the damage for the customer and consequently the damages required. With regard to shops, for instance cold rooms, or special environments requiring precise temperatures or humidity, can be monitored and reported in case of anomalies even allowing the direct intervention of a technician. Security services can be offered with costs and methods much more affordable than traditional ones, which were previously prerogative of security companies with huge costs. These are just few of the possibilities. The challenge which we focused on, is to provide insurance carriers with a tool that can generate value-added smart solutions that insurance companies may offer to their customers, to differentiate and expand their product portfolio or to increase the appeal of outdated insurance policies.”

Aizoon, company technologically advanced and already present not only in Italy but even in the UK, Australia and the US, joins Lyt acquiring 10% of shares, and offering in exchange not only cash investment, but above all (clearly more important for growth of the startup) by providing its technical expertise to improve and refine the product and all the strength of its market positioning to get customers.

The next development to achieve, is the creation of a single system for homes, offices and shops, with router functionality, set top boxes and home automation hub with professional security features. “Areas of application of sensors and connected items are countless”, said in Aizoon. “The real leap will be the opportunity to redesign processes, products and services and to accelerate the access to the new digital environment for all industries”

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