Australian smart buildings company Quantify raises $5M in capital

Quantify Technologies, a publicly traded IoT company that develops smart/intelligent building applications and solutions has raised $ 5M in new capital.

The company trades on the Australian stock exchange under the ticker QFY and raised the funds by issuing 83M new shares to new and existing investors at 6 cents a share. Quantify will use the funding proceeds for the testing of an integrated Amazon Alexa/Q Device product they are developing.

“These funds will also allow us to accelerate development of further enhancements and integrations of technologies such as Amazon Alexa to further redefine the IoT industry standard and to make our solution the platform of choice,” Mark Lapins, head of Quantify Technologies.

The Q Device by Quantify can be used to control multiple IoT-based in-home devices. The core solution can be deployed at the time of a building’s construction or retro-fitted later.

Rolling out IoT solutions across an enterprise is considered a tough ask, especially when organizations have heterogeneous system operating upon different standards. This is where Quantify makes a difference by eliminating the needs to install dedicated gateway devices or communications hubs. It offers a core control and reporting API for the purpose.


Postscapes: Tracking the Internet of Things

Industrial IoT analytics company UpTake nabs $117M Series D

UpTake, an Industrial-IoT analytics company yesterday raised a Series D round of $ 117M at a post-money valuation of $ 2.3 billion. Investment firm Baillie Gifford led the latest round that brought UpTake’s total funding to $ 250M.

SM

Uptake’s advanced analytics platform

UpTake is a SaaS (software-as-as-Service) product capable of reading ‘machine sensor data’. Its predictive analytics software collects and interprets sensor data for clients in the mining, rail, energy, aviation, retail, and construction industries. The software further utilizes the ML (machine learning) technology to predict incidents/events for the monitored machinery.

The company is trying to go after ‘heavy’ industries like oil and gas and energy. “We’re on a growth trajectory now where there is virtually nothing standing in our way from being the predictive analytics market leader across every heavy industry, from oil & gas to mining and beyond,” said Uptake Co-founder and CEO, Brad Keywell. Brad is a co-founder of Groupon as well.

Two primary use cases of UpTake’s technology and products are predictive and preemptive maintenance for the industrial machinery. The startup boasts customers such as Caterpillar, Berkshire Hathaway Energy, and Panduit.

Two key competitors of the company are SparkCognition and Konux. The former raised a $ 32M Series B round in July this year. The Chicago-based company has several pending patents while one of the key patents it currently holds deals with the adaptive handling of the operational data (coming directly from machine sensors).


Postscapes: Tracking the Internet of Things

IoT security company Pwine Express gets $8M and a new CEO

Pwine Express, the maker of Pulse IoT security platform that identifies rouge devices and networks across connected devices raised $ 8M in new funding from existing investors .406 Ventures, Ascent Venture Partners and Fairhaven Capital.

Pulse Device Detection

The new funding comes with the change in leadership in the form of Todd DeSisto as the company’s new CEO. Desisto is an ex-CEO of Axeda, an IoT company acquired by PTC (Nasdaq: PTC) for $ 170M.

“The opportunity to work with a terrific team at an IoT security company like Pwnie was too good to pass up. At Axeda we saw that as things become connected to the Internet, they also become vulnerable to cyber threats. IoT environments cannot depend on the constant integrity of every connected device to ensure their ongoing security. A system specifically designed to monitor and protect the environment is required. Pwnie is well positioned to meet this challenge,”
CEO Desisto

The company’s core solutions include network asset discovery, wireless network security, Bluetooth security and rouge device and network detection. The company also sells penetration testing devices (called pentesting devices) to detect/assess on-site network/device security.

Pwn Plug R4

The new CEO will help the company by rolling out the new channel partner programs (aimed towards managed security service providers MSSPs). The funding proceeds will also help launch new IoT security products.

The latest round of funding brings Pwine’s total equity funding to $ 28M. There’s been a series of investments in the IoT security startups. This year four startups including ZingBox, CloudPost, Armis, and Mocana raised north of $ 50M. And, there’s a group of IoT security startups that got funded by the Department of Homeland Security in Q1’17. This shows that as the number of internet-connected devices/machines has increased, so has the need to secure these assets via new solutions.


Postscapes: Tracking the Internet of Things

Bolt IoT platform raises $40K in crowdfunding from its Kickstarter campaign

Bolt, an integrated IoT hardware kit comprising of Bolt WiFi chip, Module, Cloud, mobile apps, and APIs launched its Kickstarter campaign and raised $ 40,000 pledged of $ 10K goal through 875 backers.

Bolt Hardware

A key differentiation of Bolt from other IoT kits is the former’s cloud platform has machine learning algorithms that users can run on their sensor data. The other aspect is that Bolt has ‘packaged’ the IoT development hardware and software in a way that lets developers launch a project from zero using the Bolt solution.

The Kickstarter offers by Bolt starts from the basic $ 17 Bolt IoT platform and upsells to $ 650 legendary kit. Typical use cases of Bolt platform are home automation, temperature monitoring, soil monitoring, and other real-time monitoring use cases.

Smartphone App

A complete feature list of the platform can be accessed on Bolt’s campaign page. The product is primarily aimed towards makers, hobbyists, and developers planning to build an IoT product (with ML capabilities baked in). Third party services like Twilio, Mailgun, Zapier, and IFTTT can be appended to Bolt and lets developers make custom made alert/notification systems.


Postscapes: Tracking the Internet of Things

Australian Smart Buildings company Quantify raises $5M in venture funding

Quantify Technologies, an IoT company that develops smart/intelligent building applications and solutions raised $ 5M in venture capital. It was raised by placing 83M shares to new and existing investors at 6 cents a share. Quantify will use the funding proceeds for the testing of an integrated Amazon Alexa/Q Device product developed by Quantify.

“These funds will also allow us to accelerate development of further enhancements and integrations of technologies such as Amazon Alexa to further redefine the IoT industry standard and to make our solution the platform of choice,” Mark Lapins, head of Quantify Technologies.

The Q Device by Quantify can be used to control multiple IoT-based in-home devices. The core solution can be deployed at the time of a building’s construction or retro-fitted later.

Rolling out IoT solutions across an enterprise is considered a tough ask, especially when organizations have heterogeneous system operating upon different standards. This is where Quantify makes a difference by eliminating the needs to install dedicated gateway devices or communications hubs. It offers a core control and reporting API for the purpose.


Postscapes: Tracking the Internet of Things