Baimos Technologies, a Munich, Germany-based company specializing in secure mobile communication and authorization management for smart devices, raised a seven-digit funding round.
Backers included HCS Beteiligungsgesellschaft, High-Tech Gruenderfonds and Bayern Kapital.
The company intends to use the funds to continue to expand operations.
Led by Mr Philipp Spangenberg, CEO, Baimos Technologies is a developer of BlueID device authentication and authorization technology which enables objects to securely connect and interact with smart phones and smart watches. The technology, which integrates into apps, back-end systems and existing hardware with applications including ones in tech trends such as Connected Cars, Smart Home and Sharing Economy, works with communication standards like Bluetooth Smart, NFC, Wi-Fi and the mobile Internet which places it well in the developing IoT and M2M market.
The company partners with such companies as Marquardt, Emerson Network Power, eQ-3/ELV, Microsoft and noris network while clients including Audi, Daimler, Sixt, MobydoM and LMU Munich, among others.