IOTech Systems Limited, an Edinburgh, Scotland, UK-based IoT Edge platform company, raised $7.5m in Series A funding.
The round was led by Dell Technologies Capital, with participation from SPDG, (Société anonyme de Participation et De Gestion), the holding company of the Périer-D’Ieteren family, Northstar Ventures and the Scottish Investment bank, the investment arm of Scottish Enterprise.
The company intends to use the funds to:
– expand channel support and acquisition capability across the U.S., Europe and APAC,
– accelerate product delivery,
– extend its professional service offerings particularly to support customer pilots and subsequent production deployment, and
– build its global sales & marketing team.
Founded in April 2017 by Keith Steele, CEO, IOTech builds and deploys open and secure software edge platforms for the Industrial Internet of Things (IIoT) enabling drive IoT innovation, global market adoption, velocity and scale.
IOTech monetizes EdgeX through complementary product and service offerings, including Edge Xpert, a commercially supported licensed version of EdgeX, which is available on multiple hardware and OS configurations. Edge Xpert supports vendor neutral North (Cloud) and Southbound (Thing) integration. The company also recently announced Edge XRT which extends EdgeX with real-time capabilities. XRT is designed to support software-defined, real-time controllers used in software-defined process automation applications.
It markets its products through global channels and recently announced significant deals with a major system integrator and Dell Technologies to distribute its products.
The company proactively supports Linux Foundation’s LF Edge’s EdgeX Foundry™ project, which is the Open Source IoT Edge Platform, backed by a partner ecosystem including Intel, ARM, Dell Technologies, HP and IBM.
FinSMEs
19/11/2019