Altizon Systems, a Pune, India-based provider of an Internet of Things (IoT) development platform, closed a $4m series A funding.
The round was led by Wipro Ventures with participation from Lumis Partners and current investors The Hive and Infuse Ventures. In conjunction with the funding, Rohit Bhayana, Managing Partner of Lumis Partners, will be joining Altizon’s Board.
The company plans to use the funds for scaling up its sales and marketing functions both in India and globally.
Led by CEO Vinay Nathan, Altizon provides Datonis™, a platform for enterprises in Manufacturing and Cleantech sectors to develop their IoT applications around condition-based monitoring, predictive maintenance and machine learning. The solution features device connectivity kits, a device management layer, a real-time, big-data analytics engine and alerting and monitoring services.
FinSMEs
02/02/2016