Macheen Closes $10M Financing
Macheen Inc., an Austin, Texas-based global service provider for connected devices, has closed an additional $10m in financing.
The round was led by GemVentures, with participation from existing investors North Bridge Venture Capital and DFJ Mercury. The investment group also includes Tom Meredith, Mike Maples Sr. and Yechiam Yemini.
The company intends to use the capital to expand its cloud-based connectivity services platform.
In conjunction with the funding, Philippe Vallée of GemVentures will join Macheen’s Board of Directors.
Led by Richard Schwartz, President and CEO, Macheen provides an end-to-end solution that enables device makers and retailers to ship devices with the “Internet included”, anywhere. Its service offering includes mobile broadband connectivity and support for new content business models.
The company has wholly owned subsidiaries in Germany (Macheen GmbH) and the UK (Macheen Ltd).