German IoT startup Relayr has raised $30 million in a funding led by Deutsche Telekom Capital Partners with participation from B37, Purple Arch, Kleiner Perkins, and Munich Re.
Relayr, whose total funding now stands at around $100 million, develops an enterprise cloud platform for aggregating data from industrial IoT devices; its customers include Bosch and General Electric.
As well as the investment, the startup will be entering a strategic partnership with Deutsche Telekom.
“The globally available connectivity platform of Deutsche Telekom and relayr’s industry-specific IoT solutions complement one another perfectly,” commented Hagen Rickmann, director of business customers at Deutsche Telekom.
“This investment will allow us to grow substantially and further solidify our profile globally,” said Josef Brunner, CEO of Relayr, which plans to grow its staff to 300 this year.
“Because we enter into long-term partnerships with our customers, robust methods play a key role in accompanying them on their journey into modern ‘pay-per-use’ and ‘as-a-service’ business models that combine technology, service, insurance and financing,” he said.