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IoT startup Evrythng has announced it has raised $24.8m in a Series B funding round led by San Francisco-based Sway Ventures. Canadian VC Generation Ventures and UK-based BLOC Ventures also participated in this round.
The company which has bases in London, New York and San Francisco says the funding will enable it to expand its team, continue developing its enterprise-focused IoT platform and forge relations with relative partners in the industry.
Brian Nugent Co-Founder and General Partner at Sway Ventures (pictured above), commented: “Evrythng is at the forefront of enabling brands and product manufacturers to make smart products, engage with their customers and gain deeper insights into their products, including where they are sold, how they are used and what happens to them through their entire lifecycle.
“We are excited to be supporting the company’s growth and realization of its vision, which is both category-defining and playing a critical role in the digital transformation of the consumer product brand market,” he added.
Niall Murphy, CEO and co-founder at Evrythng, commented:
“This funding round is a signal of the maturing and adoption of the Internet of Things in the enterprise. We are pleased to be working with world-class investors and enterprise partners to realize our vision of ‘Every Thing Connected’ as the trillions of products made and sold across the world become instrumented and a part of the digital ecosystem.”
Evrythng has now raised a total of $34.8m in total investment to date and their new investors join an impressive line-up, which includes Dawn Capital, Cisco Ventures, Samsung Ventures, BHLP, Atomico and Dawn Capital.
This investment is testament to the ever-increasing growth of the IoT Space, I recently attended Startupbootcamp’s IoT and Connected Devices demo day, which you can read by clicking here
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