About IOTech
IOTech is a company based in Newcastle Upon Tyne (United Kingdom) founded in 2010 by Anna Duong and Ha Minh.. IOTech has raised $20.8 million across 6 funding rounds from investors including Gov.uk, European Union and The Scottish National Investment Bank. The company has 37 employees as of December 31, 2023. IOTech offers products and services including Edge Central, Edge Connect, and Edge Manager. IOTech operates in a competitive market with competitors including Litmus, Infinite Uptime, Flutura, Crosser and Ekkono, among others.
- Headquarter Newcastle Upon Tyne, United Kingdom
- Employees 37 as on 31 Dec, 2023
- Founders Anna Duong, Ha Minh
- Stage Minicorn
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Sectors
Technology
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Email
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Phone
*********
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Website
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Social
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- Legal Name Iotech Systems Limited
- Date of Incorporation 03 Apr, 2017
- Jurisdiction WASHINGTON, ENGLAND
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$20.8 M (USD)
in 6 rounds
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Latest Funding Round
$2.61 M (USD), Series B
Mar 28, 2024
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Investors
Gov.uk
& 6 more
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Employee Count
37
as on Dec 31, 2023
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Products & Services of IOTech
IOTech offers a comprehensive portfolio of products and services, including Edge Central, Edge Connect, and Edge Manager. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for acquiring and processing industrial OT data in real-time.
Software for connecting and aggregating data from various devices.
Tool for monitoring and managing edge nodes at scale centrally.
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Funding Insights of IOTech
IOTech has successfully raised a total of $20.8M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $2.61 million completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series B — $2.6M
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First Round
First Round
(09 Mar 2018)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Series B - IOTech | Valuation |
investors |
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| Aug, 2023 | Amount | Series B - IOTech | Valuation | Dell Technologies Capital | |
| Dec, 2022 | Amount | Series A - IOTech | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in IOTech
IOTech has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Gov.uk, European Union and The Scottish National Investment Bank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital fund investing in multiple sectors
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Founded Year | Domain | Location | |
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Early-stage investments are made in UK companies across diverse sectors.
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Operates as a diversified portfolio management firm for clients.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by IOTech
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - IOTech
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Iotech Comparisons
Competitors of IOTech
IOTech operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Litmus, Infinite Uptime, Flutura, Crosser and Ekkono, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Real-time data analysis platform for industrial edge computing is offered.
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| domain | founded_year | HQ Location |
AI-powered predictive maintenance solutions are provided for industrial equipment reliability.
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| domain | founded_year | HQ Location |
End to end IoT platform for asset monitoring
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| domain | founded_year | HQ Location |
Edge computing software for industrial and enterprise IoT is provided.
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| domain | founded_year | HQ Location |
Embedded Edge AI platform is offered for on-device machine learning.
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| domain | founded_year | HQ Location |
Asset monitoring software is provided for industrial equipment optimization.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Iotech
Frequently Asked Questions about IOTech
When was IOTech founded?
IOTech was founded in 2010 and raised its 1st funding round 8 years after it was founded.
Where is IOTech located?
IOTech is headquartered in Newcastle Upon Tyne, United Kingdom.
Who is the current CEO of IOTech?
Keith Steele is the current CEO of IOTech.
Is IOTech a funded company?
IOTech is a funded company, having raised a total of $20.8M across 6 funding rounds to date. The company's 1st funding round was a Series A of $8.12M, raised on Mar 09, 2018.
How many employees does IOTech have?
As of Dec 31, 2023, the latest employee count at IOTech is 37.
What does IOTech do?
IOTech Systems builds and deploys edge computing platforms for the industrial Internet of Things applications. It offers Edge Expert, an open-source platform for building edge applications that enables workloads to be processed at the IoT edge while enhancing security, providing real-time decision-making reducing IoT data storage or transport requirements. The company claims that the platform is vendor-independent thereby enabling interoperability between things, applications, and services, across multiple use cases. Additionally, it allows for independent microservices to be distributed across discrete hardware devices, written in different languages (such as Java, Go Lang, CC) communicating with each other via HTTP-REST (and other protocols such as MQTT and ZeroMQ). It also supports the integration of multi-protocol OT devices and sensors (such as Modbus, BACnet, OPC UA devices) and ITcloud (such as Microsoft Azure IoT Hub and AWS IoT Platform) endpoints via APIs. Partners include Dell IoT Solutions, Edge X Foundry, and The Linux Foundation.
Who are the top competitors of IOTech?
IOTech's top competitors include Infinite Uptime, Litmus and V5 Systems.
What products or services does IOTech offer?
IOTech offers Edge Central, Edge Connect, and Edge Manager.
Who are IOTech's investors?
IOTech has 7 investors. Key investors include Gov.uk, European Union, The Scottish National Investment Bank, Dell Technologies Capital, and SPDG Ventures.
What is IOTech's valuation?
The valuation of IOTech is $42.2M as of Mar 2024.
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