IoTium, a Santa Clara, CA-based secure network infrastructure company for the Industrial Internet of Things (IIoT), closed $8.39m Series A funding round.
The round was led by March Capital Partners and GE Ventures with participation from Pankaj Patel, former executive vice president and chief development officer at Cisco; OpenSource Ventures, and Juniper Networks.
The company will use the capital to accelerate its building and industrial automation verticals, and expand its presence in the oil and gas, transportation and smart city industries with its Network as a Service (NaaS) solution.
Led by Ron Victor, founder and CEO, IoTium provides a secure network infrastructure for the Industrial Internet of Things (IIoT). The company’s patented technology enables a Network as a Service (NaaS) solution to securely connect legacy onsite systems to cloud-based applications for building and industrial automation, oil & gas, manufacturing, transportation and smart city industries.