An Israeli start-up entrepreneur has his cat to thank for his thriving start-up.

Amir Bassan-Eskenazi, was headed out the door back in 2011 to close an important multi-million dollar deal to sell his former start-up venture, BigBands Network.

That is when his cat went missing.

“That morning the cat disappeared and for my 7-year old daughter, it was more important that we find the cat,” he explained.

So, leaving this buyers sitting at the table, he searched the house for the cat, who was found, not surprisingly, safe and hiding out.

After being late to the closing due to the missing cat, Bassan-Eskenazi had an idea. He needed a way to make searches – like those easily done in the virtual world – available in people’s homes.

His solution was ‘Pixies’, or tags approximately the size of a 5 shekel coin, that interact with one another and an app.

Using an app, a person can track an object – or pet – by finding them on a virtual map. The more pixies that are activated in the home, the more accurate the map is.

Beyond just being a pet locator, however, Bassan-Eskenazi said he hopes his pixies – which he named after a rock band – will create an “internet of things.”

Eventually, he said, the pixies will be able to shut off the air conditioning when a person leaves the house. In fact, there are so many uses for the pixie, that Bassan-Eskenazi is planning to open his project up to outside developers in the near future.

In the meantime, Pixie has grown to a company with 26 employees and $7.6 million in start-up funding for its “location of things.”

“Pixie was founded exactly for you to find, organize and even protect objects in the real physical world,” Bassan-Eskenazi said, stressing that the multi-million dollar project would have never happened if it were not for a lost cat.