ThoughtWire, a Toronto, Canada-based developer of an IIoT platform, closed a combined $20m debt and Series A financing.
Backers included Yaletown Partners, BDC Capital, Round13 Capital, Epic Capital and Comerica.
The company intends to use the funds to expand its geographic growth.
Founded in 2009 and led by Michael Monteith, CEO, ThoughtWire provides Ambiant, an IIoT platform for smart cities, buildings and hospitals and workplaces.
Originally utilized in Smart Healthcare, Ambiant applies real-time machine intelligence to improve operations, care delivery and the patient experience. For smarter buildings and cities, the platform is used to guide proactive maintenance, improve cost and energy efficiency, and deliver a more personalized tenant experience. In manufacturing, it is being applied to develop self-optimizing production lines to reduce downtime and prevent component failures, for advanced efficiency and clean operations.