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Xyte stirs up $30M to enable any hardware maker to build subscription products
The hardware industry is under pressure these days: slower spending cycles from consumers and businesses, market saturation -- not to mention innovation
The hardware industry is under pressure these days: slower spending cycles from consumers and businesses, market saturation — not to mention innovation largely coming in the form of software at the moment — are all contributing to an overall decline in sales. Before starting Xyte with co-founder Boris Dinkevich (who is the CTO), Brookstein worked at a device maker called Crestron, building high-end AV systems that proved to be very expensive to shift when it came to sales. But Brookstein said that it’s started to discover that its customers are also interesting in building out HaaS that they want to offer to consumers, too — one example being Schneider electric selling its Wizer connected home heating products on Xyte-powered subscriptions — coming full circle from the days of mobile handset subsidies.
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