Tech Deal: IoT Marketplace Provider Closes $5 million Series A

The platform enables users to access a marketplace of more than a 100 connectors to IoT and enterprise platforms., one of the earliest companies to develop a managed service and enterprise IoT application marketplace, revealed March 16 that has closed the second and final round of the $5 million Series A funding led by Middle East Venture Partners (MEVP).

The closing includes the participation of San Francisco-based Endeavor Catalyst and Berytech Fund (BFII).

New York City-based said it will use the funding to expand business operations in the U.S. claims that it enables enterprises to create and deliver IoT applications with reduced time-to-market and increased cost efficiency. combines agile application creation and a zero-DevOps managed service environment to power open, scalable, and secure IoT applications. said that it solves interoperability issues between enterprise applications and IoT-based service providers by offering a marketplace of pre-built vertical IoT applications and connectors to major IoT and enterprise systems.

As a robust, carrier-grade application engine supporting millions of enterprise users and 100+ applications, can be provided from a cloud-based infrastructure or as a fully-managed service delivered on premise or at the edge.

The platform enables users to access:
-- a marketplace of more than a 100 connectors to IoT and enterprise platforms;
-- more than 60 APIs that dramatically simplify developing applications; and
-- a best-of-breed agile collaborative development and application creation environment continues to expand partnerships with leading IoT device management and application enablement companies along with IoT product distribution channels.

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Chris Preimesberger

Chris J. Preimesberger

Chris J. Preimesberger is Editor-in-Chief of eWEEK and responsible for all the publication's coverage. In his 15 years and more than 4,000 articles at eWEEK, he has distinguished himself in reporting...