Crosser, an edge-computing software company that helps analyze data at the network edge raised a $ 1.8M seed round led by Spintop Ventures. Almi Invest and Norrlandsfonden co-invested in the startup.
There is a massive increment in the amount of data companies send to the cloud. It takes time to analyze data away from devices/sensors, as well as quite costly to store data in the cloud. However, startups like Crosser help significantly reduce the cloud-storage and operations cost via ‘edge software/server’. Time-sensitive data from machines, sensors and ‘things’ is processed and analyzed at the ‘local level’, thus the software sits in the middle of sensors/things and cloud-services.
Crosser started a side-project by one of the founders in 2009. The first version of the product was a real-time communication server for enterprise customers.
Customers can typically monitor databases, sensor data streams, web sockets, cloud-services, and several devices, and data sources using Crosser’s fog computing software.
There has been an uptick in the number of ‘edge software’ startups and the funding raised. From Iguazio and FogHorn to Machfu, $ 76M has been raised between the ‘edge’ only startups since July last year. However, a major chunk of this amount was raised by FogHorn, as much as $ 42M.
Petasense, an industrial-IoT startup raised $ 1.8M Seed round. Led by True Ventures, other investors who participated in the round include Felicis Ventures, and angel investors Trae Vassallo and Gokul Rajaram.
The Petasense is an end-to-end hardware-software solution consisting of a battery-powered, wireless vibration sensor, Petasense cloud, and analytics dashboard available on both browser and mobile devices. It leverages Elecric Imp connectivity platform which is a Los Altos, CA-based WiFi-enabled IoT platform solution.
The vibration mote is a “battery-powered Bluetooth-enabled triaxial wireless vibration sensor to continuously monitor the rotating machines like motors, pumps, and gearboxes”. It’s capable of detecting high and low-frequency defects such as bearing defects, gearbox problems, machine imbalance, and shaft misalignment, structural or rotating looseness. It then uses a WiFi radio to send full vibration waveform to the Petasense Cloud. The machine learning algorithms of Petasense set specific baselines and alarm limits to each machine. In the case of abnormal readings, the software sends real-time notifications to alert the maintenance staff.
The returning investor True Ventures also contributed an undisclosed amount of seed capital back in 2015 when Petasense was founded. The venture firm is based out of Silicon Valley-and invests in early-stage technology startups. With increased venture capital investments in industrial-IoT space, startups are focusing on developing predictive maintenance solutions aimed towards the industrial companies. ThingTrax, another IIoT startup recently raised $ 250,000 for its SaaS-based IoT machine monitoring solution.