UpTake, an Industrial-IoT analytics company yesterday raised a Series D round of $ 117M at a post-money valuation of $ 2.3 billion. Investment firm Baillie Gifford led the latest round that brought UpTake’s total funding to $ 250M.
UpTake is a SaaS (software-as-as-Service) product capable of reading ‘machine sensor data’. Its predictive analytics software collects and interprets sensor data for clients in the mining, rail, energy, aviation, retail, and construction industries. The software further utilizes the ML (machine learning) technology to predict incidents/events for the monitored machinery.
The company is trying to go after ‘heavy’ industries like oil and gas and energy. “We’re on a growth trajectory now where there is virtually nothing standing in our way from being the predictive analytics market leader across every heavy industry, from oil & gas to mining and beyond,” said Uptake Co-founder and CEO, Brad Keywell. Brad is a co-founder of Groupon as well.
Two primary use cases of UpTake’s technology and products are predictive and preemptive maintenance for the industrial machinery. The startup boasts customers such as Caterpillar, Berkshire Hathaway Energy, and Panduit.
Two key competitors of the company are SparkCognition and Konux. The former raised a $ 32M Series B round in July this year. The Chicago-based company has several pending patents while one of the key patents it currently holds deals with the adaptive handling of the operational data (coming directly from machine sensors).
Seebo, a cloud-based IoT product development platform announced today an $ 8M extension of its Series A funding. Returning investors TPY Capital and Viola Ventures led the latest round. Other investors that participated in the investment include Pritzker Group Venture Capital and Japan’s Global IoT Technology Ventures.
The latest round brings Seebo’s Series A funding to $ 16.5M and the total investment to $ 22M since its launch in 2012. The company will use the funding proceeds to bring onboard partners and incorporating new business solutions in its industrial IoT platform.
Participation by the returning investors TPY Capital and Viola Ventures show that Seebo’s investors have confidence in the company’s performance and the growth plan it has laid down. Executives from both the investment firms observed that the company has the ability to reach enterprise and startup customers globally.
Companies looking to add IoT-functionality to their existing products or startups planning to launch new products with embedded-IoT features can utilize Seebo’s IoT development platform.
The platform supports IoT modeling, prototyping and simulation, system launch, and analytics. Other IoT-platform companies such as Carriots (now acquired by Altair) and Prodea (now part of Arrayent) also provide IoT-enablement features for consumer products and enterprise companies. However, Seebo goes an extra mile by providing an ‘idea-to-market’ ecosystem for product/service developers. It provides integrated features to help generate BOM (bill of materials), estimates the cost of the whole solution, drags and drop features/functions, and connectivity to factories and component vendors.
Seebo boasts having customers such as Stanley Black & Decker and Ralph Lauren as well as several upstart consumer brands.
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.
Globetouch, a company providing IoT/M2M connectivity for connected vehicles and original equipment manufacturers raised a $ 40M Series C round this week. Hermes Growth Partners, Spark Telecom Ventures and Wholesale and Impact Venture Capital participated in the latest round.
Customers can use the Globetouch GStack platform to deploy IoT/M2M services. Its client based includes mobile operators, M2M service providers, MVNOs, OTT providers, connected devices OEMs, and device distributors.
Other core products of Globetouch are GConnect, GControl, and GFusion. The company uses the GStack platform to host multiple use case apps for IoT connectivity.
The startup boasts having customers such as Huawei, Verizon, Volvo Eicher, and HP. Globetouch also acquired two companies since last year. It acquired Teramatrix Technologies, an M2M & IP infrastructure monitoring company in June this year. Before Teramatrix, Globetouch also acquired Fogg Mobile, a startup creating services for IoT.
Farmobile, an Agtech company that collects farm data via its hardware and software solution raised a $ 18.1M Series B round this week. Notable investors that participated in the funding round include Dutch Agtech venture capital firm Anterra Capital, crop insurance provider AmTrust Agriculture Insurance Services and private investors in Kansas City.
The startup, co-founded by Jason Tatge, Heath Gerlock, and Randy Nuss previously raised $ 5.5M Series A in Dec 2015 from Anterra Capital. The latest round brings Farmobile’s total equity funding to $ 23.6M since it launched in 2013.
The IoT component of the Farmobile solution is a small device called PUC that installs on farm machinery. The system uses PUC to listen and wirelessly send machine data to a cloud-based Farmobile account. The PUC implement plugs into the ISOBUS of the tractor, or straight back into the terminal. These data collected from the farm is called EFR, or simply put Electronic Field Record. EFRs can then be shared with 3rd parties via Farmobile’s cloud-based dashboard.
Farmers can take corrective actions based as the system allows 3rd parties to remotely upload prescription and documentation files and directly transfer them to machines and operators for immediate use.
The latest round of funding by Farmobile is by far one of the biggest that Agtech startups have raised this year. The Yield, an Australian Agtech startup closed $ 6.5M Series A round in April this year followed by Agtech startup Freight Farms that closed $ 7.3M Series B the following month.
As the Agtech market heats up, IoT-based smart farming startups are battling for customers and investment dollars. View our smart agriculture resource page filter and discover IoT agriculture resources.