Machfu, a Rockville, MD-based provider of Edge Intelligence Platform and Applications for the Industrial Internet of Things (IIoT), closed $3.75m in Series A funding.
The round was led by CSL Ventures with participation from existing and new investors Blu Ventures, Texas Ventures and Texas Halo Fund. In conjunction with the funding, Abhinav Jain, Vice President at CSL Ventures joined Machfu’s Board.
The company will use the capital to accelerate expansion in Smart Grid and Oil & Gas markets and expand its presence in the industrial space.
Led by Prakash Chakravarthi, founder and CEO, Machfu has developed products and services for the Industrial Internet-of-Things (IIoT) market that allow customers to focus on their core strengths, including operations, efficiency and new business models, by connecting data at the edge to IoT databases in the cloud for business analytics.
The products and services provide end-to-end integration between legacy assets and sensors and cloud or legacy head-end systems.