Industrial IoT startup Altizon Scales Up with Series A Funding of $4M

(1st Feb 2016) Pune, India –  Altizon Systems, the Internet of Things (IoT) platform innovator today announced it has closed a $4 million round of series A funding  led by Wipro Ventures  and supported by Lumis Partners and current investors, The Hive and Infuse Ventures. Altizon has emerged as a leading partner for enterprises in an IoT driven world. Datonis®, the flagship platform of Altizon is the platform of choice for top enterprises in Manufacturing and Cleantech sectors for their IoT initiatives. Enterprises rely on Datonis® for mission-critical applications around condition-based monitoring, predictive maintenance and machine learning. The company plans to utilize the funds for scaling up its sales and marketing functions both in India and globally. Altizon’s co-founder and CEO, Vinay Nathan says, “This milestone and the commitment from our investors validates the belief in the growth story of Altizon as a leading innovator in the Industrial IoT space.  With this development, we plan to take Altizon’s value proposition globally and continue to invest in our innovation edge around the Datonis® platform.” The Series A funding builds on an exceptional year for Altizon, marked by strategic partnerships with industry leaders like Wipro Ltd and Kepware to further its go-to-market initiatives. Last year, Gartner, Inc. in its report –“The Gartner 2015 cool vendor report” — identified Altizon as one of cool vendors in Embedded Software and Systems segment. “We are seeing increasing adoption of IoT technologies across our customer base. The Altizon investment represents our commitment to investing in companies building disruptive technologies,” said Biplab AdhyaVice President and Co-Head, Wipro Ventures. Rohit Bhayana, Managing Partner of Lumis Partners, who will be joining Altizon’s Board stated, “Industrial IoT has a direct bearing on productivity, client satisfaction and market leadership and therefore, it’s not another ‘good to do’, but a ‘must have’. Altizon has the depth and agility that OEMs need in such a critical space and are delighted to partner with them in this journey”  

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