IoT PaaS startup
Ayla Networks has raised $39 million in Series C funding this week to improve its Internet of Things platform for manufacturers. The financing was led by global investors like Ants Capital
, a boutique investment bank headquartered in China; co-led by 3NOD
, a design manufacturer of lifestyle products; and joined by new investors Mitsui
and Acorn Pacific
The Santa Clara-based IoT provider also claims to have bagged re-investments from existing investors which include Cisco Investments, Crosslink Capital, International Finance Corp. (IFC, a division of World Bank Group), Linear Venture, SAIF Partners/Oriza Ventures, SJF Ventures and Voyager Capital.
Yin Min, Managing Partner, Ants Capital, says “Our strategy at Ants Capital is to focus on the leading platforms in particular market segments and select winners. The Internet of Things will be the next area where major winners will emerge, and we invested in Ayla because it has unmatched traction inside China and globally with leading manufacturers making IoT products. Ayla’s strategy and IoT platform is a clear fit with the direction of manufacturers worldwide.”
Founded in 2010, CEO and Co-founder David Friedman established this startup aiming to help manufacturers to transform their products into smart, connected systems. Its recent launch, Ayla Agile Mobile Application Platform
(AMAP), is an IoT platform service that relieves manufacturers from maintaining a device management backend from scratch, helping them free up resources and also improve service quality. This provides companies with the flexibility to induce rapid changes to any device, cloud or app environment.
“Ayla is fast becoming one of the leading IoT platforms for OEMs (Original Equipment Manufacturer) that are manufacturing and shipping IoT products globally. With IoT clouds operating in multiple regions worldwide, and with major customers continuing to expand their Ayla-powered IoT product lines, Ayla believes that the ‘when’ of the IoT is right now—and that Ayla Networks is well positioned to help manufactures take advantage of growing market for connected products,” says David Friedman.
According to the company, the latest funding brings its total raised amount to almost $65 million. The company intends to use the funds for global expansion. Earlier this year, Ayla claims to have formally established its presence in Japan, with an office in Shin-Yokohama.