Industrial asset intelligence startup Alchemy IoT closes $4M seed investment

Alchemy IoT, an IoT Asset Intelligence company helping small- to mid-sized industrial customers use AI-capabilities raised $ 4M in seed funding. The investment was led by Aweida Venture Partners.

Alchemy’s Layout Screens

Alchemy’s main differentiation from similar IoT analytics companies is that it eliminates the need to write complex code for customers. Its SaaS (software-as-a-service) application called Clarity is used for asset health monitoring, operations, and maintenance. The system provides extensive API support, from IoT APIs to analytics APIs and component as well as admin APIs. The REST APIs integrate with both cloud-based IoT platforms or directly with customers’ equipment which allows them to access data from assets.

The application’s core features include sensor data monitoring, AI-based analytics, notifications/alerts, and custom capabilities (such as events and dashboards). Alchemy markets its product by stating that it eliminates the need for data scientists and custom coding, though it appears that Clarity would most likely handle regular usage scenarios and leave out edge cases that so often are a norm in industrial use cases.

“Our mission is to make AI-powered IoT a ‘no-code’ proposition, one that any industrial company can quickly start and put to use to gain fast value. Too many of today’s IoT solutions require a massive budget and an extraordinary amount of customization to even getting started – we aim to disrupt and change that.” Victor Perez, CEO Alchemy IoT


Postscapes: Tracking the Internet of Things

Silicon Labs to acquire smart home technology company Sigma Designs for $282M

Silicon Labs, a semiconductor company that manufactures products for the Internet of Things, Internet infrastructure, and industrial automation use cases announced last week that it will acquire Sigma Designs for a cash transaction valued at approximately $ 282M.

In case Sigma fails to meet certain financial conditions, the deal will still go ahead as planned for a reduced amount of $ 240M.

The deal is based on Sigma’s per share price of $ 7.05, a 26 percent premium over Sigma Designs’ closing price of $ 5.60 per share on Dec. 6, 2017. Sigma Designs is a smart home company that provides Z-Wave, a leading Internet of Things (IoT) technology for smart home solutions.

The acquisition of Sigma Designs will help Silicon Labs to expand its offerings in the smart home wireless connectivity market. “The connected home represents one of the largest market opportunities in the IoT. Today, there is no single dominant wireless technology for home automation, and protocols include Wi-Fi, Bluetooth®, Zigbee®, Thread, and proprietary,” said Tyson Tuttle, CEO of Silicon Labs. Additionally, the deal will allow Sigma to expand into Smart TV market.


Postscapes: Tracking the Internet of Things

Australian smart buildings company Quantify raises $5M in capital

Quantify Technologies, a publicly traded IoT company that develops smart/intelligent building applications and solutions has raised $ 5M in new capital.

The company trades on the Australian stock exchange under the ticker QFY and raised the funds by issuing 83M new shares to new and existing investors at 6 cents a share. Quantify will use the funding proceeds for the testing of an integrated Amazon Alexa/Q Device product they are developing.

“These funds will also allow us to accelerate development of further enhancements and integrations of technologies such as Amazon Alexa to further redefine the IoT industry standard and to make our solution the platform of choice,” Mark Lapins, head of Quantify Technologies.

The Q Device by Quantify can be used to control multiple IoT-based in-home devices. The core solution can be deployed at the time of a building’s construction or retro-fitted later.

Rolling out IoT solutions across an enterprise is considered a tough ask, especially when organizations have heterogeneous system operating upon different standards. This is where Quantify makes a difference by eliminating the needs to install dedicated gateway devices or communications hubs. It offers a core control and reporting API for the purpose.


Postscapes: Tracking the Internet of Things

Industrial IoT analytics company UpTake nabs $117M Series D

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.

SM

Uptake’s advanced analytics platform

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).


Postscapes: Tracking the Internet of Things

IoT security company Pwine Express gets $8M and a new CEO

Pwine Express, the maker of Pulse IoT security platform that identifies rouge devices and networks across connected devices raised $ 8M in new funding from existing investors .406 Ventures, Ascent Venture Partners and Fairhaven Capital.

Pulse Device Detection

The new funding comes with the change in leadership in the form of Todd DeSisto as the company’s new CEO. Desisto is an ex-CEO of Axeda, an IoT company acquired by PTC (Nasdaq: PTC) for $ 170M.

“The opportunity to work with a terrific team at an IoT security company like Pwnie was too good to pass up. At Axeda we saw that as things become connected to the Internet, they also become vulnerable to cyber threats. IoT environments cannot depend on the constant integrity of every connected device to ensure their ongoing security. A system specifically designed to monitor and protect the environment is required. Pwnie is well positioned to meet this challenge,”
CEO Desisto

The company’s core solutions include network asset discovery, wireless network security, Bluetooth security and rouge device and network detection. The company also sells penetration testing devices (called pentesting devices) to detect/assess on-site network/device security.

Pwn Plug R4

The new CEO will help the company by rolling out the new channel partner programs (aimed towards managed security service providers MSSPs). The funding proceeds will also help launch new IoT security products.

The latest round of funding brings Pwine’s total equity funding to $ 28M. There’s been a series of investments in the IoT security startups. This year four startups including ZingBox, CloudPost, Armis, and Mocana raised north of $ 50M. And, there’s a group of IoT security startups that got funded by the Department of Homeland Security in Q1’17. This shows that as the number of internet-connected devices/machines has increased, so has the need to secure these assets via new solutions.


Postscapes: Tracking the Internet of Things