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Altizon Inc, which is a US and Pune based startup, that also operates a platform for developing a solution based on the Industrial Internet of Things, has now secured Rs 49 crore in the funding round of Series A from the clutch of investors.
The company revealed in a statement that the round was led by the TVS Motor Company Pvt Ltd, that is also a subsidiary of the TVS Motor Company Limited. Some of the existing investors like the Wipro Ventures, Lumis partners and The Hive also participated in the round.
Altizon will be going to use the funds to make its presence in the international markets and even continue to grow its investment in the development of the intellectual property.
“We have a strong roster of global industrial majors as our customers and they can now gain further benefit from our global footprints and enhanced technology offerings,” said Vinay Nathan, co-founder, and CEO of Altizon.
The company was launched in the year 2013 by the Ranjit Nair, Yogesh Kulkarni, and Nathan. The company also has a wholly owned by the US subsidiary. The company as of now has three major offerings under its suite of Datonis. Its flagship product Datonis IIOT platform is one of the major cloud PaaS offering that allows for the processing, visualizing and analyzing IoT generated data in the real time scenario.