Internet of Things (IoT) smart products platform EVRYTHNG has announced a US $24.8 million Series B investment round.
The company said in a blog post that this round of funding was led by San Francisco-based Sway Ventures. The round includes Toronto-based Generation Ventures and London-based Bloc Ventures, who participated alongside existing investors. The new investors join BHLP, Atomico, Cisco, Samsung, Dawn Capital and Advance Vixeid Partners as major investors in EVRYTHNG.
With this Series B investment, EVRYTHNG said it was “responding to the rapid maturing and scalability of the market opportunity for the IoT applied to the digital lifecycle of consumer products.” The post said: We will be applying the new capital to accelerate our growth and capacity to meet the needs of our customers, both in our platform and with our partners, continue the innovation and development of applications driving intelligence with billions of active products, build connectivity across the digital ecosystem and expand our team.
EVRYTHNG was founded with the aim – “Every Thing Connected”— giving every product in the world a digital identity on the Web, integrated with the digital ecosystem and driving applications, services and business processes in real time.
In the last year, it has announced and launched partnerships with leading global packaging companies Avery Dennison, Crown and WestRock—enabling up to 300 billion consumer products to be ‘BornDigital’ each year—each product item with a digital identity in the Cloud embedded at its point of manufacture.
Image Credit: EVRYTHNG