IOTech Secures $2.5 Million in Seed Funding
IoT Edge platform company IOTech acquired $2.5 million in seed funding to accelerate the development of its products and services, enhance support for its partner ecosystem, and expand its local presence. Dell Technologies Capital is an investor and Innovate UK is providing R&D funding.
Founded by industry-acknowledged experts in the Industrial IoT (IIoT) domain, IOTech’s products are designed to address a full spectrum of secure hard and soft real-time edge computing needs across multiple vertical lIoT market domains. By leveraging an open source strategy based on the Linux Foundation’s EdgeX Foundry™ project, the company strives to accelerate growth of global partner ecosystems and increase deployment velocity of IoT systems by reducing custom systems integration.
IOTech plans to use the funds to hire across all areas of the business with an emphasis on software development, engineering, and professional services.