Tile secures $40 million to take on Apple AirTag with new products

Tile, the maker of Bluetooth-powered lost item finder beacons and, more recently, a staunch Apple critic, announced today it has raised $40 million in non-dilutive debt financing from Capital IP. The funding will be put towards investment in Tile’s finding technologies, ahead of the company’s plan to unveil a new slate of products and features that the company believes will help it to better compete with Apple’s AirTags and further expand its market.

The company has been a longtime leader in the lost item finder space, offering consumers small devices they can attach to items — like handbags, luggage, bikes, wallets, keys, and more — which can then be tracked using the Tile smartphone app for iOS or Android. When items go missing, the Tile app leverages Bluetooth to find…

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