Andium, a NYC-based provider of Industrial Internet of Things (IIoT) remote-field monitoring and communications technologies, raised $21.7M in Series B funding.
The round was led by Aramco Ventures with participation from existing investors Climate Investment, Intrepid Financial Partners, and individual investors including former Citadel CIO, Thomas Miglis.
Following the $15M Series A in 2021, this investment brought total funding to over $40M.
The company intends to use the funds to accelerate its global expansion, including scaling operations across oil and gas basins in the U.S. and the Middle East.
Led by CEO and Founder Jory Schwach, Andium has developed an end-to-end Industrial Internet of Things platform to arm consequential markets with the tools they need to reduce emissions, improve safety, and boost operational efficiency. By providing real-time, verifiable emissions data and comprehensive environmental, social, and governance (ESG) monitoring, the solution enables companies to make data-driven decisions that drive meaningful change.
FinSMEs
29/10/2024