IoT platform Ayla Networks announces $60M Series D financing
Aylya Networks, an IoT Platform-as-a-Service (PaaS) company announced that it has raised $ 60M in Series D financing. The round was led by Run Liang Tai Fund (RLT) and Sunsea Telecommunications Co. Ltd.
The company doubled down on the funding path as it previously raised $ 39M Series C in June last year. The current financing brings Ayla Network’s total equity funding to approximately $ 124M since its launch in 2010.
The company will use the latest proceeds to expand platform capabilities and to grow the ecosystem which includes application providers and channel partners.
Ayla focuses on the leading product manufacturers enabling them to make their products internet-connected via Ayla Network’s PaaS. Its end-to-end software runs across devices, the cloud, and applications to provide internet connectivity and device analytics. The Wi-Fi modules of leading hardware vendors have pre-built Ayla embedded agent. The Ayla Cloud provides a managed service where customers can track their ‘connected deployments’.
Ayla has adopted a ‘mobile-first’ approach. The company offers mobile application libraries containing APIs. The APIs can be used to create iOS and Android apps for Ayla-enabled products.
Another ‘platform-based’ company connecting consumer products to the internet is Evrythng. It raised $ 24.8 million Series B funding in March this year.