Swedish industrial IoT startup Crosser raises €3 million, plans German expansion

Stockholm-based industrial IoT (IIoT) startup Crosser Technologies has landed €3 million in a funding round Germany’s 42CAP and Sweden’s Industrifonden, with participation from existing investors Spintop Ventures, Almi Invest, and Norrlandsfonden.

Crosser has built a real-time analytics platform for enterprise IoT that allows to track the performance of industrial machines and integrate third-party AI solutions.

“This round of funding enables us to expand internationally, build out our partner ecosystem and to invest further in the development of our platform,” said Martin Thunman, CEO and co-founder of Crosser. “The first step will be to expand into Germany, the leading industrial country in Europe.”

In the photo, left to right: Crosser co-founders Johan Jonzon (CMO), Martin Thunman (CEO), and Ulf Björklund (Head of R&D)

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