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High Tech Series B Founded 2010

IOTech

IOTech develops an open edge data platform for industrial edge solutions, facilitating data accessibility, actionability, and manageability for industrial IoT applications. The platform offers connectivity, processing, and management capabilities, allowing users to connect to devices, acquire data, and securely share it with applications. It supports data processing services, edge application hosting, and automated…

📍 Newcastle Upon Tyne, United Kingdom · Edge Computing,

Funding snapshot

Last roundSeries B
Amount$3M
Date28 March 2024
Total raised$21M
Valuation42,204,535 (Aug 27, 2024)
Team size50

About

IOTech develops an open edge data platform for industrial edge solutions, facilitating data accessibility, actionability, and manageability for industrial IoT applications. The platform offers connectivity, processing, and management capabilities, allowing users to connect to devices, acquire data, and securely share it with applications. It supports data processing services, edge application hosting, and automated management of edge nodes and applications across distributed deployments. Founded in 2010 and headquartered in Newcastle Upon Tyne, United Kingdom, IOTech has raised approximately $20.8M in Series B funding from investors including Dell Technologies Capital, The Scottish National Investment Bank, Scottish Investment Bank, Northstar Ventures, and Future Fund. The company's open-source edge computing platform, based on the EdgeX Foundry project, enables industrial organizations to deploy and manage edge computing infrastructure for manufacturing, energy, and transportation applications with vendor-neutral interoperability.

Business model

Internet of Things Infrastructure > IoT Platforms > Analytics Platforms > Fog Computing,

Edge Computing > Edge Computing Stack > Software Suite

Institutional investors

Dell Technologies Capital SPDG Ventures Northstar Ventures The Scottish National Investment Bank Scottish Investment Bank Europa Gov Future Fund Scottish Enterprise Steve Osselton Andrew Foster Edward Scott

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