Pune-based IoT startup, Altizon Systems, has raised $4 Mn in series A funding round led by Wipro Ventures, the venture capital arm of Wipro. Other participants in this round included Lumis Partners and existing investors, The Hive and Infuse Ventures.
Wipro Ventures has invested about $1.4 Mn (INR 9.78 Cr.) and has picked up a minority stake in Altizon. Also, Rohit Bhayana, managing partner of Lumis Partners will join Altizon’s Board.
The startup will use the newly raised capital to scale up sales and marketing functions in India and the international market.
Biplab Adhya, vice president and co-head of Wipro Ventures said, “We are seeing increasing adoption of IoT technologies across our customer base. The Altizon investment represents our commitment to investing in companies building disruptive technologies.”
Altizon’s flagship platform Datonis is used by enterprises dealing in Manufacturing and Cleantech sectors for condition monitoring, predictive analytics, operations and for driving consumer insights. It helps build IoT product in weeks by providing device connectivity kits, a device management layer, a real-time, big-data analytics engine and alerting and monitoring services. Datonis integrates with the company’s existing IT systems to provide a seamless transition between IoT devices and IT infrastructure management tools.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.