IOTech, has announced its expansion in North American market, fueled by additional investment led by Dell Technologies Capital. The investment will support go-to-market in region and accelerate importance of product development of its creative open edge data platform. To help further drive growth in the US, IOTech has also appointed industrial IoT (internet of things) (IIoT) (industrial internet of things) veteran David C. King to its board of directors.
The recent investment included existing investors Dell Technologies Capital, SPDG (Société Anonyme de Participation et De Gestion), holding company of Périer-D’Ieteren family, Northstar Ventures and the Scottish Investment Bank. “IOTech’s platform lets enterprises capitalise on the massive volume of data generated at the Industrial IoT edge. Their technology has proven to be valuable to manufacturing and energy customers. Building out in the North American market creates opportunity to address new vertical use cases, and help more organisations realise the full potential of their edge data.” says Gregg Adkin, managing director with Dell Technologies Capital.
North America represents IOTech’s large market opportunity and additional funding will allow company to invest in expanded sales, marketing and pre-sales support to deliver deployments and future customer engagements. As part of its expansion across North America, IOTech recently expanded its technology skills with addition of field CTOs.
IOTech makes industrial data easily accessible, actionable, and manageable for world’s growing providers and consumers of industrial edge solutions. Its partners and customers are comprised of some of large industrial OEMs (original equipment manufacturers), ISVs (independent software vendors) and SIs (systems integrators) across industrial automation, renewable energy, building automation and other vertical markets. Customers include Accenture, EATON, Fluence Energy, Johnson Controls, King Steel and Schneider Electric.
The company is also building its presence in US via appointment of renowned tech provider David C. King, former CEO of FogHorn, which was acquired in 2022 by Johnson Controls, as a board and company advisor. In this advisory role, King will provide skilful insight and guidance as company continues to introduce fresh products, develops its portfolio of IIoT solutions and expands into fresh global markets.
“The industrial edge is the key to extracting the full value of industrial organisations’ data and IOTech is well-positioned to take that key and open the door to new business opportunities for its customers and partners. It’s an exciting and pivotal time for the company and I’m looking forward to serving in an active role in its continued growth and success.” says King.
King led FogHorn, a provider in edge AI software for industrial IoT solutions, through three successful financing rounds with venture capital and major corporate investors. “We’re pleased investors remain strongly committed to IOTech’s exceptional journey as a leader in industrial open edge computing. Our relationship with Dell Technologies Capital continues to strengthen on a variety of fronts and its support has been critical to the company’s excellent growth to this point. In addition to the funding, we are extremely excited to welcome David King to our board. His deep depth of knowledge, track record of success and his proven ability to accelerate growth are major assets for our leadership team and company.” says Keith Steele, founder and CEO, IOTech.
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