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By Rich Handley

Machfu Raises $1.6 Million to Accelerate IIoT Deployments in Energy, Smart Water

Machfu, an Industrial Internet of Things (IIoT) company, has announced that it has raised $1.6 million during the first round of institutional financing. This investment, led by Blu Venture Investors, will allow the company to accelerate its successes in the smart-grid and smart-water markets, and to expand its footprint in the oil and gas industry. The company has recently received financing from Maryland's TEDCO and other angel investors.

"The big problems impeding the growth of the IIoT at scale," said Prakash Chakravarthi, Machfu's founder and CEO, in a prepared statement, "are security and the sheer variety of application protocols, cloud connectivity protocols, wireless and wireline interfaces that make it difficult for legacy and IIoT technologies to communicate effectively."

"With the help of our new investment partners," Chakravarthi said, "we are enabling companies and organizations across a variety of industries to quickly and securely create applications that will help them to gather and utilize data, make sound business decisions with the additional information gleaned from that data, and increase their energy and operational efficiency as a result."

Machfu developed the Layer 7 Gateway with applications and communication capabilities for the IIoT. The system securely unifies a fragmented industrial automation market, takes advantage of a large and established developer community, enables a secure enterprise application management framework concept for the IoT with secure sandboxed applications, and makes hyper-growth potential of the IIoT possible. Machfu is positioned to capitalize on a large emerging opportunity, the company reports—conservatively predicted to exceed $20 billion annually by 2020.

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