Israel-based internet-of-things (IoT) technology startup Axonize has raised $6m in series A funding from investors including telecommunications firm Deutsche Telekom.
Meron Capital led the round, which was also backed by fellow venture capital firm Cornerstone Venture Partners and VC fund StageOne Ventures. The latter two had previously supplied $1.5m in seed capital for the company in early 2016.
Axonize has created a software platform that helps developers and managers of IoT applications on the Microsoft Azure cloud computing platform grow and accelerate the apps. It will use the series A capital to strengthen the platform and grow its sales team.
Anette Bronder, head of Deutsche Telekom’s Digital and Security department, said: “Axonize has developed a unique IoT orchestration platform which addresses our and our customers’ IoT requirements.
“Apart from our investment, we see great collaboration potential because Axonize ideally complements Deutsche Telekom Group’s IoT platform ecosystem worldwide.”