US-based internet of things technology producer Arrayent received $11m in series C funding yesterday from investors including Intel Capital, the corporate venturing arm of semiconductor maker Intel.
Financial services provider Comerica Bank, as well as DCM Ventures, Opus Capital and assorted angel investors also contributed funds.
Founded in 2007, Arrayent’s cloud-based technology enables products to be connected to the internet. The company will use the capital to add more features and drive customer acquisition.
Intel Capital, DCM and Opus also participated in an $11.9m series B round in 2013. Previously, Arrayent had secured $2.7m in funding.
Arrayent also obtained $6m in debt financing in November 2014, according to a regulatory filing.