Electric Imp Completes $15M Series B Funding

Electric-Imp-logo-largeElectric Imp, a Los Altos, California and Cambridge, England-based provider of a platform that allows devices to connect to the Internet, completed a $15m Series B funding.

Backers included new investors Foxconn Technology Group, PTI Ventures and Rampart Capital, and existing investors Redpoint Ventures and Hugo Fiennes, CEO and Co-founder of Electric Imp.

The company, which has now raised $23m in total, will use the funds to accelerate the growth, development and worldwide adoption of its platform and product portfolio.

Founded in 2011, Electric Imp provides a WiFi-enabled solution – featuring fully integrated hardware, software, OS, APIs and cloud services – that allows manufacturers and developers to manage and scale their connected products and services. It is also enabling connectivity in an array of industrial sectors, ranging from asset management, HVAC, and energy management to manufacturing and green technology.
Customers include Quirky + GE, Budweiser, Rachio and Safer Aging.

The company has formed a number of strategic relationships with companies such as IDEO and EnOcean, among others.



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