Israeli Internet of Things (IoT) planning and delivery platform Seebo today announced an $8 million extension of its Series A financing round, for a total of $16.5 million. The new investments, which bring Seebo's total funding to $22 million, come from existing investors TPY Capital and Viola Ventures, as well as Pritzker Group Venture Capital and Japan's Global IoT Technology Ventures.
The investment, which brings the total invested in the Tel Aviv based company to $22 million, will support Seebo's industrial IoT (IIoT) platform, with business solutions addressing product resilience, produce efficiency, and data-driven product innovation. The funds will also be used to help extend the Company's recently signed and soon-to-be announced strategic partnerships.
Seebo was founded in 2012 by CEO Lior Akavia and COO Liran Akavia.
Akavia said, "Since its inception, Seebo has been focused on building the leading platform for IoT planning and delivery. We've succeeded in driving customer adoption and outstanding product value. Today we see a surge in market demand from industrial manufacturers in dozens of verticals - such as mining, packaging machinery, water filtration equipment and industrial pumps - in addition to top-notch B2C brand manufacturers that we continue to serve."
Seebo's software combines IoT modeling, simulation and execution tools to quickly and cost-effectively turn existing machinery into smart, connected systems that report their health and usage data. Behavioral analytics are automatically layered on top of this big data to provide insights that drive ongoing product improvement and new business value to customers.
Over the last six months, Seebo has significantly enhanced its offering, including IoT Simulation and Behavior Analytics, closing the IoT development loop, and powering data-driven services, user insight, and product resilience.
Published by Globes [online], Israel business news - www.globes-online.com - on November 29, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017 .