Oden Technologies, a New York City and London, UK-based Industrial IoT company that provides manufacturing data analytics, closed a $10m (£7.6m) Series A funding round.
The round was led by Atomico, with participation from existing investors including the EQT Ventures fund and Inbox Capital, and seed investors. In conjunction with the funding, Atomico CEO, and co-founder of Skype, Niklas Zennström will join Oden’s board.
The company intends to use the funds to further expand its R&D and engineering teams in New York and accelerate customer growth with new sales teams in the manufacturing hubs of Illinois, Ohio and Texas.
Led by Willem Sundblad, co-founder and CEO, Oden Technologies is an Industrial IoT company that provides manufacturing data analytics. The company combines wireless industrial IoT and proprietary cloud-based analytics into a single platform for manufacturers to monitor and optimize production in real-time, from any device. The data acquisition and analytics platform enables factories to digitize production and to continuously improve using clear data and actionable insights.
To support its advancements in machine learning and AI, Oden has hired Deepak Turaga, Adjunct Associate Professor at Columbia University, as VP of Data Science. Deepak previously worked at IBM as the Distinguished Research Staff Member and Manager of the AI First ML and Planning Group.