Avassa, a Stockholm, Sweden-based edge application management and operations platform provider, raised an undisclosed amount in funding.
Backers included H&M Group, via its investment arm, H&M Group Ventures, Fairpoint Capital, and Industrifonden.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Fredrik Lundberg, Avassa provides a Platform as a Service (PaaS) for managing edge applications and infrastructure across various industries including retail, industrial, and automotive. This enables enterprises to manage the lifecycle of innovative edge applications and build new infrastructure that can operate during offline scenarios, maintain security posture in exposed store environments, and accelerate innovation.
FinSMEs
01/10/2024