IOTech, a San Francisco, CA-based open edge computing company, raised growth funding.
The amount of the deal was not disclosed.
The round was led by Dell Technologies Capital with participation from existing investors SPDG (Société Anonyme de Participation et De Gestion), the holding company of the Périer-D’Ieteren family, Northstar Ventures and the Scottish Investment Bank. To further drive growth in the U.S., IOTech has also appointed industrial IoT (IIoT) veteran David C. King to its board of directors.
The company intends to use the funds to invest in expanded sales, marketing and pre-sales support to deliver deployments and future customer engagements.
Led by Keith Steele, founder and CEO, IOTech provides IOTech Edge Central, which makes industrial data easily accessible, actionable and manageable. Edge Central is a comprehensive foundational software solution for the edge and includes connectivity, processing and edge management. Its modular and flexible plug-and-play, open edge distributed computing data platform and edge management software toolset reduce the time-to-value equation and protects software investment beyond the hardware lifecycle. Edge Central is based on EdgeX, an open-source data integration platform and a true, vendor-neutral collaborative ecosystem.
Customers include Accenture, EATON, Fluence Energy, Johnson Controls, King Steel and Schneider Electric.
FinSMEs
29/08/2023