Altizon Systems, one of the world’s first Industrial Internet Platform Company focused of Things (IoT) has closed a $4million in series – A funding from Wipro Ventures, in support with Lumis Partners and current investors, the Hive and Infuse Ventures.
Biplab Adhya, Vice President and Co-Head, Wipro Ventures said that there is an increase in the adoption of IoT technologies across their customer base and this investment represents their commitment to investing in companies building disruptive technologies.”
Likewise, this funding translates into an exceptional year for Altizon, as it marks a strategic partnership with industry leader Wipro Ltd. The company plans to utilize the funds for scaling up its sales and marketing functions in India as well as abroad.
Subscribe to our Newsletter
Join our editors every weekday evening as they steer you through the most significant news of the day, introduce you to fresh perspectives, and provide unexpected moments of joy
Vinay Nathan, Co-founder and CEO of Altizon, commented that, “This milestone and the commitment from our investors validates the belief in the growth story of Altizon as a leading innovator in the Industrial IoT space. With this development, we plan to take Altizon’s value proposition globally and continue to invest in our innovation edge around the Datonis™ platform.”
Altizon’s flagship product, the Datonis™ IoT Platform, helps in creating IoT products and solutions in weeks by providing device connectivity kits, a device management layer, a highly-scalable, real-time, big-data analytics engine and alerting and monitoring services.
In Addition, Rohit Bhayana, Managing Partner of Lumis Partners will be joining Altizon’s Board. He speculates that the Industrial IoT has a direct bearing on productivity, client satisfaction and market leadership and therefore, it’s not another ‘good to do’, but a ‘must have’. Further, he believes that Altizon has the depth and agility that OEMs need in such a critical space and Lumis is delighted to partner with them in this journey.
Analytics India wishes Altizon many more success stories and remains excited to see how the IoT firm grows in this symbiotic relationship. In an IT dominated market, the support of IT giants such as Wipro definitely leaves a significant mark on the IoT community as a whole as well as leads to stimulating the growth of analytics indirectly, since analytics plays an important role in the development and maintenance of IoT products and services.