Industrial IoT Startup IoTium Hopes To Expand Vertical Footprint With $8.4 Million Funding Round

Industrial Internet of Things startup IoTium, which secures network infrastructure for manufacturing floors, said Thursday that it has secured $8.4 million in Series A financing.

Ron Victor, CEO of IoTium, said he hopes to use the capital to expand the company's channel footprint – which includes systems integrator, reseller and edge services partners –  in an array of vertical markets, including smart buildings, the oil and gas markets, transportation and smart cities.

"We will use this round of funding to expand our sales and marketing," said Victor. "We want to guide the connectivity in industrial applications from the source to the sync. We are enabling the expansion of IIoT by making it possible for any type of organization to securely connect legacy mission-critical industrial assets to the cloud with minimal IT Intervention and no changes to enterprise security policy.” Read the full article here.