US-based internet-of-things (IoT) technology developer Sensoro raised $18m yesterday in a series B round featuring diversified conglomerate Sumitomo and industrial product and appliance manufacturer Robert Bosch.
The corporates were joined by private equity and venture capital firm Tsing Capital, and Bosch took part in the round through its corporate venturing arm, Robert Bosch Venture Capital (RBVC).
Founded in 2013 through software provider Microsoft’s Accelerator initiative, Sensoro produces beacons that collect and transmit data picked up by proximity and wireless sensor networks for use by IoT applications.
The company focuses on environmental monitoring and asset tracking technology, and its flagship product range, Alpha Product Suite, offers a long-range, low-power support system for IoT sensor networks.
The round follows $10m of funding provided by Nokia Growth Partners, the strategic investment vehicle for communications equipment maker Nokia, as well as property developer New World Development and investment holding company Mandra Capital in December 2015.
Hongquan Jiang, partner at RBVC, said: “The internet of things is happening today and will significantly transform the way how we live.
“We believe Sensoro’s robust and easily deployable technologies will accelerate this transformation and change how we see our environment and make decisions. We are excited to see potential collaborations between Bosch and Sensoro in IoT.”
– Image courtesy of Sensoro Co., Ltd.