Cumulocity Raises Funding

Published On February 5, 2013 |

Cumulocity, a Dusseldorf, Germany-based M2M spin off of Nokia Siemens Networks, has raised funding from Finnish VersoVentures fund and HTGF.

The amount of the transaction was not disclosed.

is to make mobile machine-to-machine applications profitable for all businesses through ready-made, cloud subscription services.

Started in 2010 as a Nokia Siemens Networks project  in Mountain View, CA, by an experienced team of senior managers and engineers, Cumulocity is dedicated to simplifying the internet of things. Its software solutions are designed to manage devices that are equipped with sim cards like vending machines or telematic units on a global scale.

Led by Bernd Gross, co-founder and CEO, the company offers VendMe, a cloud-based M2M solution that connects vending machines and provides real-time sales and stock level data in a central management, reporting and planning application, and Conduct, a cloud-based M2M application platform.

Cumulocity, which operates engineering facilities in Germany, Poland and Portugal, is currently hiring (read here).

FinSMEs

05/02/2013

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