Foundries.io has raised $8 million in Series A funding to push its secure IoT vision.
The funding is led by IQ Capital, with participation from Crane Venture Partners and Backed VC.
Led by technology industry pioneers, George Grey and Ian Drew, Foundries.io has developed an open source platform that provides OEMs and Systems Integrators a common software base to develop, test, deploy, manage and maintain secure IoT and Edge devices through a single cloud-native solution.
This means that companies can ensure the lifetime support of connected devices, unlock innovation, and improve speed-to-market while saving time and money.
The new funding comes on the back of rapid growth since its inception in 2017 and seed round funding in 2019, which has already resulted in significant partnerships and a strong pipeline.
The Series A funding will support Foundries.io’s expansion plans through both talent recruitment and marketing, to bring this platform to further innovative companies around the world.
Foundries.io CEO George Grey said 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.
“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.”
He said OEMs can now couple their hardware innovations to a secure, production-tested base software platform, enabling freedom of choice of enterprise software and cloud providers using containerized applications and services.
