Cloudleaf secures $13 million funding to bring patented Sensor Fabric to market
IoT startups in Silicon Valley are in the news every time when they receive a financial push. This time it is Cloudleaf – a designer and developer of a location-aware sensory platform for automotive, aerospace, pharmaceutical and life sciences, and industrial manufacturing companies.
The company has secured a total of $ 13 million (£9.7m) in a series A funding round from IndusAge Partners, Bold Capital Partners, Tandem Capital, Mahindra Partners and other seasoned angel investors.
Cloudleaf will put the received fund in innovation in IoT and bring its patented Sensor Fabric to market. The company’s mission is to enable its customers to know the location of their assets and its condition in real-time. The Sensor Fabric is an intelligent mesh embedded with IoT sensors, endpoints, gateways and cloud technologies.
Every asset in it generates a unique digital fingerprint with location and contextual metadata, such as temperature, shock and vibration. Moreover, a patented location engine, middleware and cloud applications easily transforms digital metadata into actionable insights. Dashboards provide alerts, notifications, metrics, trends, analytics and KPIs related to inventory, product quality, audit and regulatory compliance.
Another IoT startup, Canada-based Helios Wire, raised an additional $ 4 million to launch first of its two satellite-based IoT systems in December 2017. Scott Larson, CEO and co-founder, Helios Wire, said: “For instance, a small-scale farmer will be able to use Helios Wire’s economical IoT service to optimally manage a handful of fields. As well, multinational shipping corporations and exporter-importers will be able to optimise fleets and shipments. In Ireland, Cubic Telecom received $ 47 million in Series C funding round which will help the firm to pave way for vehicle connectivity.