FogHorn Systems, a developer of “edge intelligence” software for industrial and commercial Internet of Things (IoT) applications, has secured $12 million in Series A funding to further innovate its offerings.
The funding round was led by March Capital and GE Ventures, with additional funds provided by Robert Bosch Venture Capital GmbH, Yokogawa Electric Corporation, and Darling Ventures. The company also converted an additional $2.5 million of initial seed capital provided by March Capital and The Hive, the Palo Alto-based AI and big data studio that co-created FogHorn.
“This is the largest initial round of funding raised by a Silicon Valley startup focused on IoT edge analytics and fog computing,” said FogHorn CEO David C. King. “In addition to welcoming these companies as strategic investment partners, we will work with each of them to develop breakthrough IoT solutions for their industrial and commercial customers.”
FogHorn’s technology enables edge processing, real-time analytics, and heterogeneous machine learning applications to be hosted as closely as possible to the source of high-volume and high-velocity operations technology (OT) machine data.
This solution empowers customers with the ability to achieve greater operating efficiencies, such as increases in runtime, throughput and yield, or a reduction in machine outages, scrap material and energy usage, and detects anomalous conditions that can impact individual asset or site-wide performance.
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