FogHorn Systems, a Mountain View, CA-based developer of “edge intelligence” software for industrial and commercial Internet of Things (IoT) applications, raised $12m in Series A funding.
The round was led by March Capital and GE Ventures with participation from Robert Bosch Venture Capital GmbH, Yokogawa Electric Corporation and Darling Ventures.
The company also converted an additional $2.5m of initial seed capital provided by March Capital and The Hive, the Palo Alto-based AI and big data studio that co-created FogHorn.
Led by CEO David C. King, and CTO Sastry Malladi, FogHorn provides an edge intelligence (or “fog computing”) platform for industrial and commercial IoT applications, which enables a new class of real-time analytics, machine learning models and edge computing applications in a wide variety of industrial and enterprise use cases in such sectors as manufacturing, power and water utilities, oil and gas production, mining, renewable energy, transportation and health care, as well as smart grids, smart cities, smart buildings and connected vehicles.
The company’s industrial IoT software stack is a combination of technologies blending the benefits of real-time, on-site processing of sensor data from industrial machines with cloud-based management, analysis, and machine learning. In addition to applying intelligence at the edge where IoT devices operate, the platform lowers cloud-related bandwidth costs by refocusing the role of the cloud to specific functions such as application portability and provisioning orchestration, machine learning and advanced cloud/edge analytics.
FinSMEs
27/07/2016