Ayla Networks raises US$ 60 million
Extracting IoT data and transforming it into business intelligence is a major challenge. Ayla Networks has secured new capital to explore this further.21 Nov 2017 Claudia Witte
At the start of November, Ayla Networks , a leading provider of IoT PaaS (Internet of Things Platform as a Service), founded in 2010, successfully secured US$ 60 million in funding. This funding will be used to further enhance the company’s product capacities, in particular its data management and analysis services based on embedded software and integrated cloud approaches. The volume of data processed at Ayla is currently increasing fivefold each year.
A further outcome of this Series D financing round is Ayla’s partnership with Sunsea Telecommunications , a Chinese high-tech enterprise, specializing in research and development (R&D), manufacturing, marketing, and engineering services for ICT network infrastructures. The objective of this collaboration, and of the consequent newly founded joint venture, is to strengthen Ayla’s presence in the fast-growing Chinese IoT market even more aggressively.
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