USA, Axeda Raises $9M Funding

Axeda Corporation, an on-demand intelligent asset management company, announced that it has closed a $5m series B funding round with its lead investor JMI Equity and has also secured $4m venture debt from Toronto-based MMV Financial.
The investments will fund the Foxboro, Mass.-based company growth as it positions itself for new business opportunities in the burgeoning M2M (machine-to-machine) market.
Its SmartLink is a Platform-as-a-Service (PaaS) that allows enterprises to connect, manage, service, and track wired and wireless assets globally. It provides system integrators, ISVs, manufacturers and developers with the foundation to quickly build and deploy smart solutions with enterprise level scalability and VeriSign certified security.

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