- The funding was led by Dell Technologies Capital
- With the investment, the company aims to expand its acquisition capability and channel support
UK-based internet of things (IoT) edge platform company, IOTech Systems has raised $7.5 million in its series A funding round. The funding was led by Dell Technologies Capital, with additional investment from Scottish investment bank, Société anonyme de Participation et De Gestion (SPDG) and Northstar Ventures.
The company said that it aims to use the investment to expand its acquisition capability and channel support across the US, Asia Pacific (APAC) and Europe. It also plans to build its global sales and marketing team and extend its service offerings to support both customer pilots and consequent production deployment.
Computing needs in IIoT
IOTech Systems plans to address the range of secure hard and soft real-time edge computing needs in multiple vertical industrial internet of things (IIoT) market domains through an open source business execution model. The company also supports the EdgeX Foundry project by Linux Foundation.