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CISC Semiconductor extends its RFID reader and tag portfolio; CAEN RFID intros fixed reader for industrial and outdoor installations; iDTRONIC offers Android 9-based handheld RFID readers; IoT company Particle raises $40 million in funding led by Qualcomm Ventures, Energy Impact Partners; NiceLabel unveils new ABAP package that supports RFID.
IoT Company Particle Raises $40 Million in Funding Led by Qualcomm Ventures, Energy Impact Partners
Particle, a provider of an Internet of Things (IoT) platform, has announced that it has raised $40 million in Series C funding led by Qualcomm Ventures LLC and Energy Impact Partners. This round also includes prior existing investors Root Ventures, Bonfire Ventures, Industry Ventures, Spark Capital, Green D Ventures, Counterpart Ventures and SOSV. This brings Particle's total venture capital funding to $81.3 million to date.
The funding round follows significant growth in demand for Particle's enterprise IoT platform. The company has experienced 150 percent year-over-year revenue growth, driven largely by fast-growing customers bringing their Particle-powered IoT products to market. Particle's customers also benefit from the security, reliability and scalability that a full-stack platform provides, the company reports; customers are gathering more than 22 billion sensor data points a year.
Particle's IoT platform provides software, hardware and connectivity as an integrated solution. This allows a variety of companies, ranging from traditional manufacturers to fast-growing startups, to bring IoT products to market quickly without having to build their own software infrastructure.
"Over the last seven years, we've seen a wide range of business embrace IoT, especially those driving innovation in traditional industries," said Zach Supalla, Particle's CEO, in a prepared statement. "More and more of our customers are in old-fashioned, even unglamorous, businesses like stormwater management, industrial equipment, shipping, or monitoring any number of compressors, pumps, and valves. These businesses are diverse, but the common thread is that they need to monitor and control mission-critical machines, and we see it as our mission to help bring their machines, vehicles, and devices into the 21st century."
"Creating a bridge from the physical to the digital world is far more complex than most people realize, " said Carlos Kokron, Qualcomm Technologies's VP and managing director for the Americas, in the prepared statement. "From the device itself to the network to cloud connectivity and software functionality, there are a lot of moving parts and complexities. Particle's full-stack platform for IoT technology development accounts for all of these vital elements in a highly secure and flexible environment. We have been very impressed with Particle's technology and market traction and are excited to continue to support their growth."
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