Israeli startup Axonize, which specializes in IoT services based on Microsoft Azure has closed a $6 million Series A financing round led by Meron Capital and including a substantial investment from Deutsche Telekom and the participation of existing investors StageOne Ventures and Cornerstone Venture Partners.
Axonize will use the funding from this round to invest in further enhancement of its platform and accelerate the ramp-up of its sales team.
The company, which was founded by CEO Janiv Ratson, CTO and VP R&D Omri Cohen, Shachar Levi, devices and communications, and Amir Unger architecture and analytics, has raised $7.5 million to date.
Ratson said, “The backing of Deutsche Telekom for our IoT orchestration platform is a strong validation for our unique service provider capabilities. Their IoT business is both visionary and extremely practical and will have a transformative impact on digitization of their enterprise customers.”
Axonize and its IoT orchestration platform were chosen for this strategic investment by Deutsche Telekom following a rigorous selection process, due to its unique service provider capabilities that include cross-application orchestration and management, and very fast development times per application.
“Axonize has developed a unique IoT orchestration platform which addresses our and our customers’ IoT requirements,” said Anette Bronder, head of Digital and Security Department of Deutsche Telekom. “Apart from our investment, we see great collaboration potential because Axonize ideally complements Deutsche Telekom Group’s IoT platform ecosystem worldwide.”
Axonize is purpose-built for IoT service providers. Among its unique capabilities is the ability to orchestrate, connect, and manage multiple IoT applications, granting service providers management capabilities across all applications. The company has a unique architecture based on a pre-built, highly flexible AnyAPP application layer that resides on a robust and secure Microsoft Azure cloud.
Published by Globes [online], Israel business news - www.globes-online.com - on April 12, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018