Mnubo secures $16.5 million in series B funding round to accelerate expansion of IoT solutions

Mnubo, an IoT data analytics and artificial intelligence (AI) provider, has raised $ 16.5 million in a series B financing round to speed up the global expansion of its SmartObjects IoT analytics and data science solution.

Throughout the world, SmartObjects aims to helping service providers and equipment manufacturers in furthering their data monetisation strategy. Johnson-Controls Hitachi is among the prominent manufacturers who are using SmartObjects. 

Greg Barats, president and CEO of HSB Group, a Munich Re arm that led the financing round and also a strategic commercial partner of Mnubo, said: “We’re thrilled about this strategic partnership with Mnubo to bring to market a suite of financial and insurance related products based on artificial intelligence and machine Learning on IoT equipment datasets. HSB can help Mnubo’s customers realize meaningful results from their IoT investments."

Frederic Bastien, president and CEO of Mnubo, said: “We are spearheading the transformation of the IoT landscape by enabling a data-driven versus a connectivity-driven business model. Companies must focus on business outcomes through IoT insights in order to stand-out in a crowded and confusing market. HSB has 150 years of experience in insuring commercial and industrial equipment; this alliance with Mnubo enables the next-generation of IoT manufacturers and enterprises to benefit from a portfolio of IoT-based, data-driven financial products to accelerate RoI by enabling IoT data monetisation.”

In another funding raising story, cybersecurity enterprise VDOO has secured $ 13 million to formulate and commercialise its IoT security platform. According to VDOO, its first-of-its-kind IoT platform can provide security certification for a wide array of connected devices via an automated, end-to-end process that analyses the devices, gives the most accurate security requirements and implements guidance based on that analysis.

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Bevi raises $16.5 million in series B to ramp up smart vending machines

Smart beverage machine maker Bevi has raised $ 16.5 million in a series B funding round conducted by Trinity Ventures, with an ongoing support from Horizons Ventures and Tamarisc.

The funding will be used to expand its presence throughout the US, the company said. A part of the funding will be used towards launching their new counter-top beverage dispenser model, and also towards speeding up the development of IoT-enabled technology to enable consumers to customise their beverages at the point of use.

The new model of smart water cooler stores natural flavourings and features a touchscreen interface for customers to create custom drinks and creative concoctions like coconut and peach seltzers. Bevi has also designed a counter-top unit for smaller spaces. Introduction of such new smart technologies will aim to contribute towards making water coolers and bottled and canned beverages obsolete thus furthering Bevi’s mission. Workplaces that implemented its offerings have noted a 50% decline in office beverage costs.

Bevi noted a 1000% revenue growth in 2016 and it is foraying in new avenues such as hotels, fitness centres, and schools. It serves many fortune 500 companies such as Apple, Netflix, Fidelity, and GE.

Bevi uses proprietary software and IoT capabilities to track machine performance and collect real-time data on beverage consumption and combines it with a minimalist user experience for thoughtfully customising beverages. Using this data Bevi proactively restocks ingredients, streamlines operations and collects vital analytics around beverage consumption trends.

Patricia Nakache from Trinity Ventures said: “The Bevi value proposition for employers and employees is unbeatable: less expensive, more customisable and better for the environment. They are also precisely on-trend as consumers are demanding healthier food and beverage options as well as better environmental sustainability.”

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