16th September 2014
Altizon Systems announces closure of its seed funding with global VC firm, The Hive™, leading the round, along with Infuse Ventures and Persistent Ventures
Altizon Systems today announced closure of its seed round with The Hive™, Infuse Ventures and Persistent Ventures. Altizon is a product company focused on the Industrial Internet with its flagship product Datonis® architected to be the backbone for Enterprises adopting the Internet of Things (IoT). The Datonis® platform is available as a SaaS as well as an on-premise offering
Vinay Nathan, CEO and Co-Founder for Altizon stated, “This funding vindicates Altizon’s pioneering Datonis® platform, our fabulous team and the market traction we have gained. We have the privilege of working with marquee funds that believe in our long term vision to build a pioneering Industrial Internet product company”.
“At The Hive™ we believe in launching data-driven businesses that cater to the global market. IoT will be front and center of the next wave of data-driven applications. Altizon is that kind of company with the right products, technical team and experience to deliver on this vision and we are committed to advance their story”, said Arihant Patni, Managing Director at The Hive India.
“The Datonis® platform is driving value to our customers by providing real-time Operational Efficiency, Remote Monitoring Predictive Maintenance and Consumer Insights for their high-value assets. This investment is a big validation of our story and will help us in our next phase of growth, says Altizon’s COO and co-founder Yogesh Kulkarni.
Kunal Upadhyay, CEO, Infuse Ventures, a fund focused on the sustainable and clean energy sector, housed at IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship, “Monitoring, analyzing and improving operational parameters of clean tech infrastructure is critical for the space that we operate in and Altizon’s vision fits very well into our core objective. Several of our portfolio companies are looking to utilize the Datonis® platform in their offerings.”
“Altizon is a platform company at its core and is focused on democratizing IoT, helping OEMs and System Integrators (SIs) build a diverse set of offerings across multiple verticals by leveraging Datonis®”, says Altizon’s Co-Founder and CTO, Ranjit Nair
Also joining the round is Persistent Ventures, a Division of Persistent Systems Ltd. Persistent stated that they are looking to leverage Datonis® for their go-to-market activities in the IoT space.
Altizon is a product company focused on the Industrial Internet. Altizon has a family of sensor data appliances and SDKs that drive data from sensors in Industrial Equipment to our flagship Datonis® platform. The Datonis® platform provides a device cloud, and performs large-scale data ingestion and aggregation utilizing Big Data technologies on time series data. Datonis® is a global industry first for the Industrial Internet and can handle a billion events a day from a million devices. Our OEM and SI partners build applications that leverage Datonis® for on-premise and cloud solutions for Operational Efficiency, Predictive Maintenance, Remote Monitoring and Consumer Insight in Manufacturing, Smart Grid and Connected Health industries. For more info: www.altizon.com
Varun Mohan, Media Relations
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