Israel internet of things startup Seebo has raised an additional $8 million for its Series A round, totalling $16.5 million. The investment comes from TPY Capital, Viola Ventures, Pritzker Group Venture Capital, and Global IoT Technology Ventures.
Seebo is developing an industrial IoT platform to help meet the demand of connected devices in manufacturing and industry, and the huge amounts of data that produces. The platform keeps companies abreast of the status and efficiency of their equipment.
“We’ve succeeded in driving customer adoption and outstanding product value,” said CEO Lior Akavia. “Today we see a surge in market demand from industrial manufacturers in dozens of verticals - from mining to packaging machinery, and from water filtration equipment to industrial pumps - in addition to top-notch B2C brand manufacturers that we continue to serve.”
Guy Yamen, managing partner of TPY Capital is chairman of the board of Seebo.
“Seebo’s recently-struck partnerships with giants in the world of CAD and IoT Cloud providers is a tremendous validation of the unique value proposition and complementary toolset that Seebo’s platform brings to enterprise manufacturers,” he said.