Altizon, a Pune headquartered IoT platform provider, has raised Series A funding worth Rs 9.78 crore ($1.4 million) for a 20% stake from Wipro Ventures, reports ET. The company has raised overall $4 million in this round led by Wipro, with participation from Lumis Partners, The Hive and Infuse Ventures.
Rohit Bhayana, managing partner at Lumis Partners will join Altizon’s board. The company will use the funds for expanding globally, invest in its Datonis platform and scale up sales and marketing in India and abroad. Wipro will also resell the Datonis platform for its global customers, with the investment.
Previous funding: In September 2014, Altizon Systems had raised seed funding in a round led by The Hive, Infuse Ventures and Persistent Ventures. Although further details of the deal were undisclosed, Persistent System reportedly invested $100,000 in Altizon for equity shares in one or more tranches from time to time.
Altizon’s flagship product Datonis works as a software-as-a-service or an on-premise offering for enterprises. It integrates sensor data from industrial equipment, health equipment, retail, consumer electronics etc., into ‘The Datonis’ by using specific SDKs. Data stored is analysed by the platform which can then be used for equipment management and creating custom and third party apps.
Altizon was founded by Vinay Nathan, Yogesh Kulkarni and Ranjit Nair in April 2013 and claims partners in Amazon Web Services, Wipro, Persistent, Saama and MCCIA among others.
Developments in big data and IoT:
– Last week, Infosys invested $4 million in Waterline Data Science, a data recovery and data governance software provider.
– Citizens of Delhi NCR can start getting their products from e-commerce sites delivered to certain metro stations in the city, starting this month, through Automated Parcel Delivery Terminals.
– Last month, big data and marketing SaaS company Blueshift Labs raised $8 million in a round of funding led by Storm Ventures, with participation from existing investor Nexus Venture Partners.
– In December, Infosys invested $3 million in the wearables company Whoop, for a minority holding in the company.
– In the same month, QikPod, a startup which aims to set up a network of fully automated self serve lockers raised a little over $9 million (Rs 60 crore) from Foxconn, Accel Partners, Flipkart and Delivery.