Raiven Capital, an early-stage venture fund, today announced its investment in Pratexo, an intelligent edge-computing and distributed cloud platform for Artificial Intelligence, the Internet of Things, and Industry 4.0 applications.
The $3.5M seed round included BCP Blitz LP and Northscaler, along with business and technology leaders from the U.S., Canada, and Scandinavia.
Edge computing moves processes from the cloud to remote spots where cameras, sensors and other devices do more than just collect data, creating efficiencies by minimising long-distance bandwidth needs between clients and servers. Simplifying design and speeding development, Pratexo effectively turns software architects into experienced edge computing gurus while reducing the risk, cost, and time of expensive one-off solutions.
Until now, edge computing has been all over the map with no defined standards, noted Supreet Manchanda, General Partner at Raiven Capital. “Pratexo brings both a disciplined architecture and platform to streamline development and speed up operations. Companies can reduce failure and build resilience quickly,” he said.
Pratexo is said to allow technology platforms that demand computing power at the edge, such as near sensors or cameras placed in remote locations to run better and faster. Ideally suited for shipping, energy, utilities, defense, and smart buildings and cities, Pratexo said it uses open and proven technologies to configure the architecture for every edge application.