Foundries.io secures £5.8m Series A funding led by IQ Capital to expand operations.
The Series A round was led by IQ Capital with participation from Crane Venture Partners and Backed VC.
Foundries.io delivers a cloud development and deployment platform designed to secure Internet of Things and Edge devices. The company provides a common software base for original equipment manufacturers to manage connected products across their lifespans.
Foundries.io has secured £5.8m in Series A funding led by IQ Capital, with participation from Crane Venture Partners and Backed VC. The capital will be directed towards talent recruitment and marketing to support the international expansion of its platform. The company has experienced rapid growth since its inception and previous seed backing, developing an open source platform that provides a common software base for original equipment manufacturers to build and manage connected devices.
The latest financing will enable the business to scale its operations and bring its cloud-native solution to additional markets. The investment arrives as demand grows for software platforms capable of ensuring long-term device security and reducing development costs in the connected hardware sector.
From the founder
"The industry needs a new cloud DevOps approach to IoT that’s built from the ground up to reinvent how software is developed and deployed. At Foundries.io, our team’s deep expertise and experience has helped us to reinvent how devices are secured and managed. We believe the latest software is always the most secure and most trusted, so we have created the FoundriesFactory platform to deliver to the embedded industry an easy to use cloud-native solution for secure open source-based software development and management,"
George Grey
CEO at Foundries.io
Investor perspective
"Foundries.io is leading an industry-wide movement to secure any software running on connected edge devices. The company has created the first truly horizontal, cloud-native, hardware-agnostic operating system and device management platform, enabling OEMs to focus on their applications and services, while being secure in the knowledge that their devices in the field are always kept safe, by using up-to-date software that is fully optimized to their own hardware designs,"
Ed Stacey
managing partner, IQ Capital
Use of funds
- 01Grow the team
- 02Invest in sales and marketing
- 03Expand into international markets
Investors
Categories
About the company
Foundries.io
Foundries.io provides a cloud-native platform for secure Internet of Things and Edge devices.