FogHorn Systems, a US-based industrial internet-of-things (IIoT) software developer, has secured $15m in a series A round that included corporate venturing subsidiaries of computing hardware producer Dell and petroleum producer Saudi Aramco.
Dell Technologies Capital and Saudi Aramco Energy Ventures added $3m to the $12m first tranche, which was co-led by GE Ventures, the venture capital arm of industrial product maker General Electric, and VC firm March Capital Partners in July 2016.
The first tranche also featured Robert Bosch Venture Capital, the corporate venturing vehicle for industrial product and appliance producer Robert Bosch, industrial technology manufacturer Yokogawa Electric, VC firm Darling Ventures and Dell Technologies Capital.
FogHorn provides software that can facilitate advanced monitoring and diagnostics, operational intelligence and the optimisation of machine performance and maintenance. It intends to use the funding to expand geographically.
Gregg Adkin, Dell Technologies Capital’s managing director, said: “The development of intelligent edge computing solutions driven by analytics and machine learning insights is a strategic game changer for businesses in every industry.
“FogHorn has made tremendous progress in a short amount of time and the company’s proven ability to apply its edge intelligence expertise across a wide variety of IIoT use cases is extremely impressive.”
March Capital and startup studio The Hive had previously supplied $2.5m of seed capital for FogHorn in 2015.