Seebo, a Tel Aviv, Israel-based platform for Internet of Things (IoT) planning and delivery, raised an additional $8m in Series A funding.
This extension brings the total round amount to $16.5m and total investments raised to date to $22m.
Backers included existing investors TPY Capital and Viola Ventures, as well as Pritzker Group Venture Capital and Japan’s Global IoT Technology Ventures.
The company intends to use the funds to support the growth of its industrial IoT (IIoT) platform, with business solutions addressing product resilience, produce efficiency, and data-driven product innovation, and extend strategic partnerships.
Established in 2012 by Lior Akavia and Liran Akavia, Seebo provides a cloud-based software platform that combines IoT modeling, simulation and execution tools to quickly and cost-effectively turn existing machinery into smart, connected systems that report their health and usage data. Behavioral analytics are automatically layered on top of this big data to provide insights that drive ongoing product improvement and new business value to customers.
Over the last 6 months, the company has enhanced its offering, including IoT Simulation and Behavior Analytics and powering data-driven services, user insight, and product resilience.
The company serves manufacturers from dozens of industries, including Multotec, Oseco, Durabrite, and Stanley Tools.
It has offices in San Francisco, Tel Aviv, and Shenzen.