Israeli IoT startup Axonize has raised $6 million in Series A funding led by Meron Capital with participation from Deutsche Telekom, StageOne Ventures, and Cornerstone Venture Partners.
The Israeli company develops a Microsoft Azure-based internet of things orchestration platform for IoT service providers for connecting and managing multiple applications.
It will use the new funds to improve the performance of the platform and expand its sales team.
“The backing of Deutsche Telekom for our IoT orchestration platform is a strong validation for our unique service provider capabilities,” said CEO Janiv Ratson. “Their IoT business is both visionary and extremely practical and will have a transformative impact on digitization of their enterprise customers.”
“Axonize has developed a unique IoT orchestration platform which addresses our and our customers’ IoT requirements,” added Anette Bronder, head of Digital and Security Department of Deutsche Telekom. “Apart from our investment, we see great collaboration potential because Axonize ideally complements Deutsche Telekom Group’s IoT platform ecosystem worldwide.”