IoTfy, Inc. a startup that offers a self-serve IoT cloud platform, has raised an undisclosed amount in a seed round of funding led by US-based B2B accelerator 9Mile Labs. IoTfy was selected for the accelerator program in November last year.
IoTfy was founded in October 2014 by Arpit Chhabra, Shivam Dikshit, Shashank Saxena and Sushant Taneja. It enables hardware enterprises to adopt IoT quickly and seamlessly in order to build and manage their connected devices, users and business.
The funding was received as a part of 9Mile Labs accelerator program. The startup is currently in talks with Indian investors and will soon close its next round in a couple of months.
Co-founder Shivam Dikshit said, “We have a vision for India. We are already in the market and have a pipeline of 7 OEMs and 2 white labelled manufacturers. We are confident that with the positive response we are getting from the market, by 2017 we will be serving 3 Mn devices through our platform.”
The Idea and The Need
Co-founder Arpit opines that although IoT has become a buzzword, but the fact remains that IoT adoption is really slow. Primarily because everyone can see the gold rush 4-5 years down the line but very few understand the right road to it. At IoTfy, the team’s experience in IoT industry has helped in framing the right product and go-to market strategy.