Wednesday, September 19, 2018

ioTium Raises $13.6M For IoT Products

Santa Clara-based ioTium, a developer of industrial Internet-of-Things technology, announced this morning that it has raised $13.6M in a Series B funding round. The funding was led by March Capital Partners, and also included Honeywell Ventures, John Chambers' JC2 Ventures and Hanna Ventures plus GE Ventures and Juniper Ventures. ioTium is developing "software-defined converged infrastructure" products for the industrial Internet-of-Things market. The company says its products are being applied to the building automation and energy and manufacturing environments. ioTium said the new funds go towards accelerating its technology leadership and for market expansion efforts both in the U.S. and abroad.