The Week In Review: IoT
Finance
CyberX raised $18 million in Series B funding, bringing its total funding to $30 million. Norwest Venture Partners led the new round and was joined by ff Venture Capital, Flint Capital, Glilot Capital Partners, and OurCrowd. CyberX makes its headquarters in Framingham, Mass., with operations in Israel. The startup offers security protection for Industrial Internet of Things applications and for industrial control systems.
ZEDEDA came out of stealth mode this week and said it received $3.06 million in seed funding. Almaz Capital, Wild West Capital, and other investors participated in the funding. The startup was established in 2016 and has its headquarters in Santa Clara, Calif., with engineering and market development teams in Germany, India, South Korea, and the United Kingdom. ZEDEDA provides secure, cloud-native, real-time applications for industrial robots, self-driving cars, and other uses, protecting edge devices. The company is offering early access to its platform, which will go into customer trials in the first six months of this year.
LumiGrow, a supplier of smart horticultural lighting, took in a bridge financing of $5.1 million, which it will use to accelerate product development. Ecosystem Integrity Fund took part in the financing, along with ValueAct Master Fund and Greenhouse Capital. LumiGrow is based in Emeryville, Calif.
Chicago-based FourKites, which provides asset tracking for customers like Best Buy, Cargill, and Conagra Brands, has raised $35 million in Series B funding led by August Capital. Bain Capital and Hyde Park Venture Partners, existing investors in the startup, were also involved in the round. FourKites will use the money to expand its geographic reach and product development. The company’s total funding is $48 million.
Mist Systems of Cupertino, Calif., announced a Series C round of $46 million, led by Kleiner Perkins Caufield & Byers. Lightspeed Venture Partners, Norwest Venture Partners, GV, NTT DOCOMO Ventures, and Dimension Data also participated in the new funding, which brings Mist’s total funding to about $88 million. Mist provides self-learning wireless networks using artificial intelligence technology for enterprise-grade IoT, Bluetooth Low Energy, and Wi-Fi.
Article Credit: Semi Engineering
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