SensorUp Inc., an Internet of Things (IoT) for geolocation company, has raised $2 million in seed funding led by Vanedge Capital.
The financing closed in March 2018. Paul Lee, managing partner of Vanedge Capital, has joined SensorUp board of directors.
Founded by CEO Dr. Steve Liang, SensorUp provides data, analytics, and artificial intelligence solutions that enable companies to rapidly aggregate IoT data from multiple systems and transform them into actionable insights.
Calgary based SensorUp intends to use new funding to accelerate the go-to-market campaign of SensorThings Cloud service and create new data-driven IoT business solutions for smart cities, first responders, and field service.
photo credit: SensorUp
SensorUp Raises $2M Seed Round to Accelerate Expansion of IoT for Geospatial Platform
Calgary, Alberta, June 4, 2018 — SensorUp, a leading Internet of Things (IoT) for geolocation company, today announced that it has raised $2 million in seed financing, led by Vanedge Capital. The financing will allow SensorUp to accelerate the go-to-market campaign of their award-winning SensorThings Cloud service and create new data-driven IoT business solutions for smart cities, first responders, and field service.
SensorUp provides the leading software for companies that rely upon the geospatial features of their IoT implementation. SensorUp’s founder and CEO, Dr. Steve Liang, is a global influencer in geospatial community and has developed several core IoT standards including the United Nations’ and the Open Geospatial Consortium’s (OGC) SensorThings standard. OGC is the key standards organization for geospatial technology and is responsible for ensuring that geospatial IoT data is interoperable and future-proof. SensorUp’s software is the first and most complete IoT service platform that is certified compliant with the OGC and ISO standards for IoT.
Because of their close adherence to key standards, SensorUp’s software is future-proof, extensible, scalable, and guaranteed interoperable. SensorUp has received numerous awards including the NATO Defence Innovation Challenge award for secure federation of IoT devices. The company has a global customer base in smart cities and industrial IoT, including top-tier organizations like Lockheed Martin, Department of Homeland Security, Natural Resources Canada, and more than 10 world-leading smart cities around the world.
Paul Lee, managing partner of Vanedge Capital, believes that SensorUp will become the IoT analytics platform of choice for customers who rely on geospatial in their IoT implementations. “Vanedge has deep knowledge and a broad network within the geospatial sector that we developed supporting other portfolio companies in the space,” said Lee. “We believe SensorUp has a clear leadership position in IoT for geospatial and that their software will enable customers to seamlessly integrate disparate IoT data, provide real-time situational awareness, and gain meaningful insights for smart cities, first responders and field service management.”
Liang said that this seed round of financing strongly affirms SensorUp’s position as the industry leader in IoT data and analytics for geospatial. Liang said, “We’re thrilled about this strategic partnership with Vanedge to bring to market a suite of IoT business solutions based on geospatial analytics and Artificial Intelligence (AI) for IoT data.”
SensorUp is an Internet of Things company, providing data, analytics, and artificial intelligence solutions that enable companies to rapidly aggregate IoT data from multiple systems and transform them into actionable insights. Learn more at www.SensorUp.com
Vanedge Capital is a Vancouver based early-stage venture capital fund investing in technology inflection points in cloud computing, artificial intelligence, cyber security, SaaS and digital media. As entrepreneurs and investors, Vanedge’s team has built and led world-class companies using a unique combination of operating leadership and management; subject matter expertise; relationships with technology, creative, and management talent. Vanedge has over $296M in assets under management. Learn more at www.VanedgeCapital.com
Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
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