Israeli startup mPrest, which provides monitoring and control software for the Internet of Things (IoT), has raised a $20 million Series led by GE Ventures and ourCrowd. Petah Tikva-based mPrest, which developed the brains for the Iron Dome missile defense system, will use the proceeds to expand its international presence in the industrial and commercial markets and rapidly scale to meet the soaring needs of the IoT world.
mPrest’s generic software platform enables organizations to connect any sensor at any time with unparalleled flexibility. Organizations receive real-time situational awareness and can optimize operations automatically.
OurCrowd CEO Jon Medved said, “Just as its Iron Dome technology has played an invaluable role in protecting millions of citizens, we are confident that mPrest's real-time platform will deliver enormous value to its large industrial customers for years to come.”
GE Ventures managing director Jonathan Pulitzer said, “mPrest has created a scalable software platform for smart asset management that has great industrial applications. We look forward to potentially partnering with mPrest and exploring applications of their technology for GE.”
mPrest is an established player in the monitoring and control software industry serving essential sectors, including defense and security bodies, electric and water utilities, smart cities and buildings, fleet management companies and other large organizations around the world. For the past six years, mPrest has been a strategic partner with Rafael Advanced Defense Systems to supply the command and control system for the renowned Iron Dome air-defense system, as well as many other large projects.
mPrest founder and CEO Natan Barak said, “The enormous promise of the IoT relies on smoothly integrating disparate systems, sensors and disciplines while managing the exponential growth of connected devices. We built mPrest’s product-based platform to empower industrial and commercial organizations to autonomously adapt to these changes to strengthen performance and drive operational efficiency and cost reductions. Together with our new and existing partners we are committed to growing into a world leader in technology for the increasingly connected industrial world."
Published by Globes [online], Israel business news - www.globes-online.com - on January 25, 2016
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