Mnubo, an IoT data analytics and artificial intelligence (AI) provider, has raised $ 16.5 million in a series B financing round to speed up the global expansion of its SmartObjects IoT analytics and data science solution.
Throughout the world, SmartObjects aims to helping service providers and equipment manufacturers in furthering their data monetisation strategy. Johnson-Controls Hitachi is among the prominent manufacturers who are using SmartObjects.
Greg Barats, president and CEO of HSB Group, a Munich Re arm that led the financing round and also a strategic commercial partner of Mnubo, said: “We’re thrilled about this strategic partnership with Mnubo to bring to market a suite of financial and insurance related products based on artificial intelligence and machine Learning on IoT equipment datasets. HSB can help Mnubo’s customers realize meaningful results from their IoT investments."
Frederic Bastien, president and CEO of Mnubo, said: “We are spearheading the transformation of the IoT landscape by enabling a data-driven versus a connectivity-driven business model. Companies must focus on business outcomes through IoT insights in order to stand-out in a crowded and confusing market. HSB has 150 years of experience in insuring commercial and industrial equipment; this alliance with Mnubo enables the next-generation of IoT manufacturers and enterprises to benefit from a portfolio of IoT-based, data-driven financial products to accelerate RoI by enabling IoT data monetisation.”
In another funding raising story, cybersecurity enterprise VDOO has secured $ 13 million to formulate and commercialise its IoT security platform. According to VDOO, its first-of-its-kind IoT platform can provide security certification for a wide array of connected devices via an automated, end-to-end process that analyses the devices, gives the most accurate security requirements and implements guidance based on that analysis.
iottechnews.com: Latest from the homepage
According to a new research report from the IoT analyst firm Berg Insight, around 5.9 million people in Europe were using connected care solutions at the end of 2016.
The figure refers to users of traditional telecare, next-generation telecare and telehealth solutions in the EU28+2 countries.
Until 2022, Berg Insight forecasts that the number of connected care users will grow at a compound annual growth rate (CAGR) of 18.7 percent to reach 16.5 million.
Traditional telecare is currently the largest and most mature of the three market segments, but the next-generation telecare and telehealth market segments are expected to have a higher growth rate while traditional telecare is being phased out. Berg Insight expects that traditional telecare will be overtaken by next-generation telecare as the largest segment of the connected care market with a forecasted 8.1 million users in 2022. However, traditional telecare will follow with 6.2 million us ers and telehealth with 4.0 million users at the end of the forecast period.
The European connected care industry is facing major changes that will reshape the competitive environment for solution vendors and service providers during the coming years. One of the main developments is the digitalization of telephone networks that already has started in several countries. Massive replacements of telecare equipment will be needed due to that analogue devices no longer function reliably when the PSTN infrastructure is modernized. At the same time, the market is opening up to new types of solutions that can advance the delivery of care to the next level. This includes next-generation telecare systems that support functionalities such as remote visits and video communication.
Anders Frick, Senior Analyst, Berg Insight, said:
“There is a strong need for solutions that enable social care and healthcare services to be delivered more cost-efficiently without compromising the quality of care”.
He adds that this need will only grow stronger in the future as the European population structure ages and the prevalence of chronic diseases increases.
The post Berg Insight says 16.5 million Europeans will use connected care solutions in 2022 appeared first on IoT Business News.
IoT Business News
Smart beverage machine maker Bevi has raised $ 16.5 million in a series B funding round conducted by Trinity Ventures, with an ongoing support from Horizons Ventures and Tamarisc.
The funding will be used to expand its presence throughout the US, the company said. A part of the funding will be used towards launching their new counter-top beverage dispenser model, and also towards speeding up the development of IoT-enabled technology to enable consumers to customise their beverages at the point of use.
The new model of smart water cooler stores natural flavourings and features a touchscreen interface for customers to create custom drinks and creative concoctions like coconut and peach seltzers. Bevi has also designed a counter-top unit for smaller spaces. Introduction of such new smart technologies will aim to contribute towards making water coolers and bottled and canned beverages obsolete thus furthering Bevi’s mission. Workplaces that implemented its offerings have noted a 50% decline in office beverage costs.
Bevi noted a 1000% revenue growth in 2016 and it is foraying in new avenues such as hotels, fitness centres, and schools. It serves many fortune 500 companies such as Apple, Netflix, Fidelity, and GE.
Bevi uses proprietary software and IoT capabilities to track machine performance and collect real-time data on beverage consumption and combines it with a minimalist user experience for thoughtfully customising beverages. Using this data Bevi proactively restocks ingredients, streamlines operations and collects vital analytics around beverage consumption trends.
Patricia Nakache from Trinity Ventures said: “The Bevi value proposition for employers and employees is unbeatable: less expensive, more customisable and better for the environment. They are also precisely on-trend as consumers are demanding healthier food and beverage options as well as better environmental sustainability.”
iottechnews.com: Latest from the homepage