End-to-end IoT platform Particle banks $20M Series B

Particle, an end-to-end enterprise IoT platform has raised $ 20 Million in Series B Funding. Spark Capital led the round.

Particle is a full-stack IoT device platform.

The company entered into the IoT platform market as a hardware connectivity solution deploying its platform in a wide variety of industrial and municipal IoT applications, such as in gas stations, on oil rigs, in storm water drains, and in manufacturing equipment.

However, it has evolved into a full-stack suite having the hardware, firmware, software and the Particle cloud. An appealing tagline “prototype-to-production platform for developing an Internet of Things product” and an equally robust product has helped Particle’s growth. 120,000 people and companies, 50% of which are from S&P 500, currently use it to develop their IoT products.

“While the media’s IoT focus has been primarily on consumer electronics, wearables, and ‘smart home’, we’ve learned from our customers that the future of IoT is within the enterprise market,” said Zach Supalla, CEO at Particle.

Forbes estimated that more than 450 IoT companies have mushroomed in the past two years and 25% of the IoT companies founded in 2016 closed their shop. Particle’s growth and traction were noteworthy compared to other IoT products.

Particle full-stack platform has a cloud offering, device management console, cellular IoT SIMs, SDKs and IDE (integrated development environment). The hardware components it sells include Wi-Fi connected microcontrollers, internet buttons, and asset tracking hardware kits.

The company has been consistently raising funds throughout its five years journey. It raised $ 567,000 of crowd-funding in 2013 followed by a Seed Round of $ 4.2M in July 2014 and $ 10.4M Series A from Root Ventures, O’Reilly Alpha Tech Ventures (OATV), and Rincon Venture Partners in Nov 2016.

Postscapes: Tracking the Internet of Things

WISeKey reports continued growth with $20m revenue for first half of 2017

WISeKey International, the Switzerland-based cybersecurity and IoT firm, has announced ‘significantly increased’ revenue up to $ 20 million (£15.4m), unaudited, for the first half of this year as the company’s progress continues to improve.

The company’s previous revenues stood at $ 1.3m reported for the first half of 2016, and $ 11.6m consolidated revenues for the full year.

In order to evolve as a major player in IoT, cybersecurity, AI and blockchain, WISeKey has aggregated over 46 patent families – with more than 200 patents in total – to its portfolio required to integrate the OISTE/WISeKey Root of Trust into IoT embedded devices with problem-solving AI solutions. The new patents consists a range of technologies for IoT and semiconductors, particularly those that help make enterprise-level computing services more trusted, reliable and secure.

WISeKey has also established a Centre of Excellency in India, USA, Argentina, Switzerland and China. Via these Centres of Excellence, the company has collaborated with local participating firms, on building points of view, proof of concepts, policies, educational materials including addressing all the distributed ledger capabilities across different Blockchain schemes (public, consortium and private), with industry verticalisation and domain specialisation.

Regular readers of this publication will be aware of the company’s trajectory. In April WISeKey launched a global scalable framework called the WISeKeyIoT – which offers digital public key infrastructure (PKI) certificates for connected devices. The certificates are protected in certified tamper resistant silicon chips, as well as an outsourced or on-premises certificate management system, with device life cycle control functions and security enforcement entities.

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