London-based Flo Live, a provider of end-to-end solutions for IoT networks, has raised $4.2 million in a Series A round. The investment was led by ARIE Capital and Golden Sunflower Capital. The company will use the funding to continue its development and grow its sales teams.
Flo Live provides IoT solutions including device management, applications, analytics, and operation of cloud networks optimized for IoT. The company is currently present in London, Paris, Limassol, Hyderabad and Tel Aviv, and is setting up a US office in California.
“Our value proposition lies in our end-to-end offer using our cloud-based IoT ecosystem which includes a managed core network, true device management and IoT applications and analytics”, said Percy Grundy, Flo Live co-founder and co-CEO in a statement. “We are driven to become the IoT partners of our customers with a view to accelerate their IoT revenue growth, and get the most out of their connected devices.”
“Flo Live’s holistic approach to the IoT industry is unique and allows them to offer depth in terms of connectivity and unparalleled levels of security. We are very excited to be on board and we see tremendous value creation potential in the short and long-term” said Simon Tobelem, CEO of ARIE Capital, in a statement. “Thanks to their secure platform in the cloud, and their customer-centric approach, Flo Live are poised to play a significant role in reshaping the IoT industry, and become the standard for what customers should come to expect from IoT players.”
Read more: Business Wire (Press release)