Axeda Corporation, a Foxboro, MA-based M2M application platform company, has received additional debt financing from MMV Financial.
Commenting on the transaction, CEO Jack Sweeney, said: “The additional backing will help us reinforce our strategic objective of M2M market leadership expansion, driven by technology innovation and exceptional customer support and success”.
Axeda Platform is designed to enable enterprises, systems integrators, solution architects and developers to build and deploy M2M solutions for remote service, fleet management, smart grid, usage-based insurance, asset tracking, mHealth, etc., at a lower cost than internally built solutions.
Customers include among the others major organizations such as Abbott Diagnostics, Agilent Technologies, Diebold, and EMC.
FinSMEs
20/04/2011