Spain-based industrial internet-of-things (IIoT) technology provider Worldsensing has raised €8.3m ($9.5m) in a series B round featuring Cisco Investments, the corporate venturing subsidiary of networking equipment supplier Cisco.
Venture capital firm McRock Capital and sustainable investment house ETF Partners co-led the round.
Founded in 2008, Worldsensing is an IIoT technology developer that focuses on smart city and industrial applications, such as civil infrastructure and construction site monitoring, smart parking and traffic flow control.
The funding will help the company continue to develop its sensor-based technology, push into international markets and improve its customer support function.
Scott MacDonald, co-founder and managing director of McRock, and Remy de Tonnac, partner at ETF, joined Worldsensing’s board in conjunction with the round.
Details of Worldsensing’s earlier funding have not been disclosed, but Cisco Investments and conglomerate Mitsui took part in a 2015 round that also featured Kibo Ventures, Fundación Jose Manuel Entrecanales and Endeavor Catalyst.
The company’s earlier funding came from investors including Finaves, the investment platform of IESE Business School in Barcelona, Spain.